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Assigned factory payroll costs as follows: direct labor, $202,250; and indirect labor, $25,000.
What variable overhead cost should have been incurred to fi ll the orders for the 140,000 items?
Discuss the president's concern about using the result of the engineering study to set the labor standards. What standard would you recommend?
Calculate the materials price variance and the materials efficiency variance, as well as the labor price and efficiency variances.
Lane always has a difficult time with the standard-setting process and believes that the benchmark data would be very useful.
Identify the relevant factors in each situation and suggest what Lane should recommend to the controller.
What direct labor cost should have been incurred to prepare 4,000 meals? How much does this differ from the actual direct labor cost?
Prepare a memo from Summer Diaz to Sydney Tyson that defines standard costing and outlines its uses and benefits.
What is the normal industry standard for plants to be considered operating at full capacity?
Roe and Adler uses a job cost system and allocates manufacturing overhead based on direct labor hours.
Identify whether each is an input or output to the copying process.
Management believes these three measures combine both financial and nonfinancial measures and are thus superior to using just financial measures.
Compute the standard quantity of Alpha SR40 per capsule that passes final inspection.
A revision of standard costs in December would have resulted in lower valuations of inventories, higher cost of goods sold because of inventory write-downs.
Calculate Design Architects' variable overhead spending and efficiency variances for the month.
We offer a limited menu, our stores are designed for delivery and carry-out, and we do not generally offer dine-in service.
Calculate Engineering Associate's fixed overhead budget and volume variances for the month.
Why are the quantities shown in the bill of materials not always the same quantities shown in the standard cost card?
Indicate which of the four perspectives in the balanced scorecard is most likely associated with the objectives that follow.
Why did Tom Rich purchase the large quantity of raw materials? Do you think that this behavior was the objective of the price standard?
Issued 5,500 units of raw materials for production. The standard units were 5,800.
Prepare all journal entries related to overhead for Kemp Manufacturing for March 2010.
Prepare the journal entry to record the purchase of materials on account for the month.
Prepare a performance report based on your variance analysis, and suggest possible causes for each significant variance.