Recent Question

What are the four steps in the effective management 1.What are the four steps in the effective management of variance analysis? 2.Should both favorable and unfavorable variances be investigated, or only the unfavorable ones? Explain Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help ...

Other / Other 12 Apr 2016

Cabot Company collected the following data 1.Cabot Company collected the following data regarding production of one of its products. Compute the Direct material standard (6 lbs. @ $2/lb.) $12 per finished unit Actual direct materials used 243,000 lbs. Actual finished units produced 40,000 units Actual cost of direct materials used $483,570 direct materials quantity variance. A. $2,430 unfavorable. B. $3,570 unfavorable. C. $2 ...

Other / Other 12 Apr 2016

Michaels Company applies overhead to production 1.During November, Heim Company allocated overhead to products at the rate of $26.00 per direct labor hour. This figure was based on 80% of capacity or 1,600 direct labor hours. However, Heim Company operated at only 70% of capacity, or 1,400 direct labor hours. Budgeted overhead at 70% of capacity is $38,900, and overhead actually incurred was $38,000. What is the company's volume varian ...

Other / Other 12 Apr 2016

Prepare a fixed budget income statement 1.Based on predicted production of 25,000 units, Best Co. anticipates $175,000 of fixed costs and $137,500 of variable costs. What are the flexible budget amounts of total costs for 20,000 and 30,000 units? 2.Casco Co. planned to produce and sell 40,000 units. At that volume level, variable costs are determined to be $320,000 and fixed costs are $30,000. The planned selling price is $10 per unit. ...

Other / Other 12 Apr 2016

Describe how variance analysis 1.Define standard costs. How do they assist management? 2.Explain variance analysis. Describe how variance analysis assists managers. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help ...

Other / Other 12 Apr 2016

Tiger, Inc. has developed the following standard cost data 1.Duval, Inc. budgets direct materials at $1/liter and each product requires 4 liters per unit of finished Per unit Direct materials (6 lbs.@ $2.00/lb.) $12.00 Direct labor (1hrs. @ $8.00/hr) 8.00 product. April's activities show usage of 832 liters to complete 196 units at a cost of $798.72. Compute the direct materials price and quantity variances. Indicate is ...

Other / Other 12 Apr 2016

A management approach that emphasizes significant 1.In the analysis of variances, management commonly focuses on four categories of production costs: __________________ cost, ___________________ cost; _________________ cost; and _________________ cost. ________________________________________ 2.A management approach that emphasizes significant differences from plans is known as _________________________________. __________________ ...

Other / Other 12 Apr 2016

Indicate whether each variance is favorable 1.Use the following cost information to calculate the direct labor rate and efficiency variances and indicate Actual costs and quantities: Direct labor cost incurred……………………………. $360,000 Direct labor hours used……………………………… 20,000 hours Units producedà ...

Other / Other 12 Apr 2016

Stanton Co. produces and sells two lines 1.Stanton Co. produces and sells two lines of t-shirts, Deluxe and Mega. Stanton provides the following data. Compute the sales price and the sales volume variances for each Budget Actual Unit sales price – deluxe……… $15 $ 16 Unit sales price – mega……… $20 $ 19 Unit sales- deluxe………… 2,400 2,500 Unit sales – ...

Other / Other 12 Apr 2016

Gates Company reports the following information 1.Gates Company reports the following information regarding the production on one of its products for the month. Compute the direct materials cost variance, the direct materials price variance, the direct materials quantity variance and identify each as either favorable or Direct materials standard (6 lbs. @$3/lb.) $18 per finished unit Ac ...

Other / Other 12 Apr 2016