Pippin inc. has provided the following data concerning one of the products in its standard cost system. variable manufacturing overhead is applied to products on the basis of direct labor-hours. inputs standard quantity or hours per unit of output standard price or rate direct materials 5.0 grams $ 7.00 per gram direct labor 0.30 hours $ 21.30 per hour variable manufacturing overhead 0.30 hours $ 9.60 per hour the company has reported the following actual results for the product for june: actual output 8,500 units raw materials purchased 48,100 grams actual price of raw materials $ 7.70 per gram raw materials used in production 42,490 grams actual direct labor-hours 2,300 hours actual direct labor rate $ 21.70 per hour actual variable overhead rate $ 9.80 per hour the raw materials quantity variance for the month is closest to: multiple choice $77 f $70 u $77 u $70 f
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Business, 21.06.2019 22:40
The vaska company buys a patent on january 1, year one, and agrees to pay $100,000 per year for the next five years. the first payment is made immediately, and the payments are made on each january 1 thereafter. if a reasonable annual interest rate is 8 percent, what is the recorded value of the patent? 1. $378,4252. $431,2133. $468,9504. $500,000
Answers: 3
Business, 22.06.2019 10:20
Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.
Answers: 1
Business, 22.06.2019 13:10
bradford, inc., expects to sell 9,000 ceramic vases for $21 each. direct materials costs are $3, direct manufacturing labor is $12, and manufacturing overhead is $3 per vase. the following inventory levels apply to 2019: beginning inventory ending inventory direct materials 3,000 units 3,000 units work-in-process inventory 0 units 0 units finished goods inventory 300 units 500 units what are the 2019 budgeted production costs for direct materials, direct manufacturing labor, and manufacturing overhead, respectively?
Answers: 2
Pippin inc. has provided the following data concerning one of the products in its standard cost syst...
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