Baird Publications established the following standard price and costs for a hardcover picture book that the compa produces. Standard price and variable costs. Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative $ 36.70 8.20 4.40 5.90 7.10 $ 131,000 47,000 Assume that Baird actually produced and sold 20,000 books. The actual sales price and costs incurred follow. Actual price and variable costs Materials cost sales price Labor cost Overhead cost Selling, general, and administrative costs Actual fixed costs Manufacturing overhead Selling, general, and administrative Required $ 35.70 8.40 4.30 5.95 6.90 $ 116,000 53,000 a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Answer is complete but not entirely correct. Flexible Budget Variances S 20,000 U Sales revenue Variable manufacturing costs Materials Labor Overhead Selling, general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general, and administrative costs Net income (4,000) U 2,000 F (1,000) U 4,000 F 9 U 15,000 F (6,000) U S OXU 11669 300

Problem 1. Colgate Palmolive Philippines employs a process cost system in the manufacture of toothpaste. Two departments are involved in the process: Department 1 and Department 2. No lost units are discovered in both departments. Below are the data in the Department 2 for the months of June and July: June 3,600 July In process at the beginning Materials Conversion costs ? ? 60% 33 1/3% Transferred in from Department 1 In process at the end Materials Conversion costs 7,500 2,700 33 1/3% 16 2/3% 9,000 2.400 50% 25% Costs of in process, beginning: Costs from Department 1 Materials Conversion costs P12,330 ? 4,050 2,160 Transferred in costs from Department 1 Materials costs added Conversion costs added 8,460 14,784 P9,675 11,730 3,384 2,592 REQUIRED: Prepare a cost of production report for the months of June and July using: (1) FIFO method and (2) WA method.

Explain the Key Provisions of the Sarbanes-Oxley Act.

what is stare basis?