FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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I need the amount for the Budgeted (flexible)
*posted this before and the previous expert who answered this question got it wrong, please help.
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- Away, as discussed in the chapter opener, uses a costing system with standard costs for direct materials, direct labor, and overhead costs. Two comments frequently are mentioned in relation to standard costing and variance analysis: “Variances are not explanations” and “Management’s goal is not to minimize variances.” Required Write a short memo (no more than one page) to Jen Rubio and Steph Korey, Away’s co-founders, interpreting these two comments in the context of their luggage business.arrow_forwardDifferences between fixed overhead and fixed cost. Like if im running a resturants, give me a real-life exmaples.arrow_forwardI need help with calculating the manufactured overhead, what do I use to get itarrow_forward
- Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardPlease answer complete question, with working,,,,, Please provide answer in text (Without image)arrow_forwardWhich one is the correct answer?arrow_forward
- The top picture was helpful for the separately stated items and I got most of the numbers on my own, but how do you calculate the QBI and allocated wages for this problem?arrow_forwardPlease dont give handwritten answers thankuarrow_forwardRequirement 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different. Begin by determing the formula to calculate the budgeted fixed manufacturing overhead rate per barrel, then compute the rate for each of the denominator-level capacity concepts. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forward
- Can you give us the actual formula for determining the overhead rate and not just the two components without relating them to each other, please? That should then help you give a better explanation of how/why the overhead could be over or underapplied.arrow_forwardPrepare a direct materials budget for silicon and solution, and a direct labor budget.arrow_forwardIn process costing, physical inventories of work in process must be taken at the end of each accounting period. Ordinarily, all department heads are responsible for their own inventories, and the methods they use to determine such data are crude by comparison with procedures used for determining year end physical inventory. It is not unusual for a department head to estimate rather than count inventories is process. Consequently, figures are bound to save errors. Is this good practice or should more accurate methods be used, such as having inventory teams determine inventories?arrow_forward
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