FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Please help me with show all calculation thankuarrow_forwardPlease give answer of this questionarrow_forwardThorne Company has the following information available for the past year. They use machine hours to allocate overhead. NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes. What is the variable overhead efficiency variance? Is it favorable or unfavorable?arrow_forward
- Rakesharrow_forwardCan you show me how this is done? How do I know if it is favorable or unfavorable? Bailey’s standard labor cost of producing one unit of Product DD is 1.8 hours at a rate of $10.1 per hour. During August, 2,515 hours were incurred at a cost of $12.9 per hour to produce 1,087 units of Product DD. Bailey’s direct labor efficiency variance is $__________ Indicate the amount and whether it is Favorable or Unfavorable by placing F or U by amount, do not skip a space and do not use $ in your answer. For example, if your answer is $1,000 favorable, answer 1000F Selected Answer: -5,639.84U Correct Answer: 5,640 ± 1 (U)arrow_forwardLily Company uses a standard cost accounting system. In 2025, the company produced 28,300 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $13.00. Normal capacity was 49,900 direct labor hours. During the year, 131,200 pounds of raw materials were purchased at $0.94 per pound. All materials purchased were used during the year. (a) If the materials price variance was $1,312 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.) Your answer is correct. Standard materials price per pound $ (b) eTextbook and Media (c) Your answer is correct. Standard materials quantity per unit If the materials quantity variance was $17,100 unfavorable, what was the standard materials quantity per unit? eTextbook and Media Your answer is correct. What were the standard hours allowed for the units produced? Standard hours allowed 0.95 45,280 hours Attempts: 1 of 5 used 4 pounds…arrow_forward
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