Managerial accounting

| March 14, 2016

Question 1

1. Bank loan officers would find which of the following budgets to be most important in determining whether or not to give a company a loan?

Answer

sales budget

production budget

budgeted income statement

budgeted balance sheet

cash budget

3 points
Question 2

1. Aces Company budgeted the following sales in units:

January

30,000

February

20,000

March

40,000

2.
Aces’ policy is to have 20% of the following month’s sales in inventory. On January 1, inventory equaled 7,500 units. February production in units is:

3. Answer

20,000.

28,000.

24,000.

26,500.

40,000.

3 points
Question 3

1. Diamond Company budgeted the following production in units for the first quarter of the year:

January

30,000

February

20,000

March

40,000

2.
Each unit requires 3 pounds of raw material. Diamond’s policy is to have 20% of the following month’s production needs for materials in inventory. On January 1, the raw materials inventory equaled 11,000 pounds.

3.

4. Raw materials purchases budgeted for February in pounds equal:

5. Answer

72,000.

32,000.

91,000.

30,000.

54,000.

3 points
Question 4

1. Diamond Company budgeted the following production in units for the first quarter of the year:

January

30,000

February

20,000

March

40,000

2.
Each unit requires 3 pounds of raw material. Diamond’s policy is to have 20% of the following month’s production needs for materials in inventory. On January 1, the raw materials inventory equaled 11,000 pounds.

3.

4. Desired ending inventory for January in pounds equals:

5. Answer

12,000

6,000

3,000

4,000

11,000

3 points
Question 5

1. Belant Company budgeted 200,000 units for June, 210,000 for July and 300,000 for August. Each unit requires 0.25 direct labor hours. How many direct labor hours are budgeted for August?

Answer

50,000

5,000

75,000

52,500

300,000

3 points
Question 6

1. Birrell Company manufactures pottery. Production of large garden pots for the coming three months is budgeted as follows:

May

20,000

June

40,000

July

35,000

2.
Each pot requires 30 minutes of direct labor time. Direct labor wages average $15 per hour. Monthly overhead averages $4 per direct labor hour plus fixed overhead of $2,100.

3.

4. What is the direct labor cost budgeted for June?

5. Answer

$20,000

$300,000

$40,000

$150,000

$525,000

3 points
Question 7

1. Birrell Company manufactures pottery. Production of large garden pots for the coming three months is budgeted as follows:

May

20,000

June

40,000

July

35,000

2.
Each pot requires 30 minutes of direct labor time. Direct labor wages average $15 per hour. Monthly overhead averages $4 per direct labor hour plus fixed overhead of $2,100.

3.

4. What is the total overhead budgeted for the month of June?

5. Answer

$80,000

$82,100

$42,100

$160,000

$162,100

3 points
Question 8

1. Galvern Company provided the following data for July:

Direct materials

$50,000

Direct labor

$25,000

Overhead

$90,000

Beginning finished goods

$15,000

Ending finished goods

$34,000

Production in units

10,000

2.
What is the cost of goods sold?

3. Answer

$165,000

$146,000

$214,000

$184,000

$75,000

3 points
Question 9

1. Sorrell Company makes all its sales on account. Accounts receivable payment experience is as follows:

Percent paid in the month of sale

30%

Percent paid in the month after the sale

60%

Percent paid in the second month after the sale

8%

2.
Sorrell provided information on sales as follows:

May

$100,000

June

$120,000

July

$130,000

August (expected)

$150,000

3.

4. How much of May’s sales are expected to be uncollectible?

5. Answer

$8,000

$2,000

$2,500

$7,200

$0

3 points
Question 10

1. Sorrell Company makes all its sales on account. Accounts receivable payment experience is as follows:

Percent paid in the month of sale

30%

Percent paid in the month after the sale

60%

Percent paid in the second month after the sale

8%

2.
Sorrell provided information on sales as follows:

May

$100,000

June

$120,000

July

$130,000

August (expected)

$150,000

3.

4. How much of June credit sales are expected to be collected in the month of July?

5. Answer

$30,000

$60,000

$36,000

$72,000

$80,000

3 points
Question 11

1. Sorrell Company makes all its sales on account. Accounts receivable payment experience is as follows:

Percent paid in the month of sale

30%

Percent paid in the month after the sale

60%

Percent paid in the second month after the sale

8%

2.
Sorrell provided information on sales as follows:

May

$100,000

June

$120,000

July

$130,000

August (expected)

$150,000

3.

4. What is budgeted cash to be collected on account for the month of August?

5. Answer

$45,000

$132,000

$132,600

$150,000

$ 54,600

3 points
Question 12

1. The sources of quantitative standards include

Answer

historical experience.

engineering studies.

input from operating personnel.

historical experience, engineering studies and input from operating personnel.

none of these answers.

3 points
Question 13

1. Standard cost systems are adopted

Answer

to improve planning and control.

to facilitate product costing.

to enhance the operational control of firms that emphasize continuous improvement.

to improve planning and control, and to facilitate product costing.

for all of these reasons.

3 points
Question 14

1. Caballero Corporation produces high-quality leather saddles. The company has a standard cost system and has set the following standards for materials and labor:

Leather (20 strips @ $15)

$300

Direct labor (15 hours @ $15)

225

Total prime cost

$525

2.
During the year Caballero produced 150 saddles. Actual leather purchased was 3,100 strips, at $12 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 2,500 hours at $16 per hour.

3.

4. Compute the costs of leather and direct labor that should have been incurred for the production of 150 saddles.

5. Answer

$36,000 and $36,000

$46,500 and $37,500

$37,200 and $40,000

$45,000 and $33,750

4 points
Question 15

1. Caballero Corporation produces high-quality leather saddles. The company has a standard cost system and has set the following standards for materials and labor:

Leather (20 strips @ $15)

$300

Direct labor (15 hours @ $15)

225

Total prime cost

$525

2.
During the year Caballero produced 150 saddles. Actual leather purchased was 3,100 strips, at $12 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 2,500 hours at $16 per hour.

3.

4. Calculate the labor rate variance and the labor efficiency variance, respectively.

5. Answer

$2,500 U and $3,750 U

$2,500 F and $3,750 F

$2,250 U and $4,000 U

$2,250 F and $4,000 F

3 points
Question 16

1. Caballero Corporation produces high-quality leather saddles. The company has a standard cost system and has set the following standards for materials and labor:

Leather (20 strips @ $15)

$300

Direct labor (15 hours @ $15)

225

Total prime cost

$525

2.
During the year Caballero produced 150 saddles. Actual leather purchased was 3,100 strips, at $12 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 2,500 hours at $16 per hour.

3.

4. Compute the total budget variances for materials and labor, respectively.

5. Answer

$7,800 U and $6,250 F

$7,800 F and $6,250 U

$1,500 U and $3,750 U

$1,500 F and $3,750 F

3 points
Question 17

1. Caballero Corporation produces high-quality leather saddles. The company has a standard cost system and has set the following standards for materials and labor:

Leather (20 strips @ $15)

$300

Direct labor (15 hours @ $15)

225

Total prime cost

$525

2.
During the year Caballero produced 150 saddles. Actual leather purchased was 3,100 strips, at $12 per strip. There were no beginning or ending inventories of leather. Actual direct labor was 2,500 hours at $16 per hour.

3.

4. Compute the materials price variance and the materials usage variance, respectively.

5. Answer

$9,300 F and $1,500 U

$9,300 U and $1,500 F

$9,000 F and $1,200 U

$9,000 U and $1,200 F

3 points
Question 18

1. Perfect Builders makes all sorts of moldings. Its standard quantity of material allowed is 1 foot of wood per 1 foot of molding at a standard price of $2.00 per foot. During August, it purchased 500,000 feet of wood at a cost of $1.90 per foot, which produced only 499,000 feet of molding. Calculate the materials price variance and the materials usage variance, respectively.

Answer

$50,000 F and $2,000 U

$49,900 U and $2,000 F

$50,000 F and $1,900 U

$49,900 F and $1,900 U

3 points
Question 19

1. The Fantastic Tool Company (Mexico Division) produced 100,000 saw blades during the year. It took 2 hours of labor per blade at a rate of $5.50 per hour. However, its standard labor rate is $5.00. Its labor efficiency variance was a favorable $55,000.

What is Fantastic’s standard hours allowed for a volume of 100,000 blades?

Answer

211,000 hours

189,000 hours

210,000 hours

190,000 hours

3 points
Question 20

1. The Fantastic Tool Company (Mexico Division) produced 100,000 saw blades during the year. It took 2 hours of labor per blade at a rate of $5.50 per hour. However, its standard labor rate is $5.00. Its labor efficiency variance was a favorable $55,000.

What is Fantastic’s labor rate variance?

Answer

$96,875 U

$105,500 U

$100,000 U

$95,000 U

3 points
Question 21

1. Lawn Professionals Corporation wants to produce a new lawnmower. he financial data is as follows:

Target price: $350
Target profit: $75
Estimated cost given current product and process designs: $300
Other information:
(1) Through reverse engineering, Lawn Professionals found a design improvement that would save $20 per unit.
(2) It also found that it could purchase a similar component of a different brand at a lower price, which would save $10 per unit.

What is Lawn Professionals’ target cost?

Answer

$275

$300

$225

$350

3 points
Question 22

1. Lawn Professionals Corporation wants to produce a new lawnmower. he financial data is as follows:

Target price: $350
Target profit: $75
Estimated cost given current product and process designs: $300
Other information:
(1) Through reverse engineering, Lawn Professionals found a design improvement that would save $20 per unit.
(2) It also found that it could purchase a similar component of a different brand at a lower price, which would save $10 per unit.

What is Lawn Professionals’ new expected profit?

Answer

$75

$105

$80

$50

3 points
Question 23

1. Which budget is used to assesses managerial efficiency?

Answer

operational budget

capital budget

static budget

flexible budget

cash budget

3 points
Question 24

1. The major differences between activity-based budgeting and traditional budgeting are found in

Answer

the materials and labor categories.

the sales and production budgets.

the cash budget.

the overhead and selling and administrative categories.

none of these

3 points
Question 25

1. Jason, Inc. produces leather purses. Jason has developed a static budget for the first quarter, based on 20,000 direct labor hours. During the quarter, the actual activity was 22,000 direct labor hours. Data for the first quarter are summarized as follows:

Static budget
(20,000 hours)

Actual costs
(22,000 hours)

Direct Materials

$ 80,000

$ 87,000

Direct labor

160,000

174,000

Rent

48,000

50,000

Total

$288,000

$311,000

2.

3. Comparing the static budget to the actual outcomes, we can say the following:

4. Answer

the manager had more direct labor hours.

the variances are all unfavorable.

the comparison is not useful for assessing managerial efficiency.

a flexible budget should be used for assessing efficiency.

all of these.

3 points
Question 26

1. Jason, Inc. produces leather purses. Jason has developed a static budget for the first quarter, based on 20,000 direct labor hours. During the quarter, the actual activity was 22,000 direct labor hours. Data for the first quarter are summarized as follows:

Static budget
(20,000 hours)

Actual costs
(22,000 hours)

Direct Materials

$ 80,000

$ 87,000

Direct labor

160,000

174,000

Rent

48,000

50,000

Total

$288,000

$311,000

2.

3. What is the flexible budget variance for the first quarter?

4. Answer

$1,000 U

$23,000 U

$1,000 F

$23,000 F

none of these

3 points
Question 27

1. Jason, Inc. produces leather purses. Jason has developed a static budget for the first quarter, based on 20,000 direct labor hours. During the quarter, the actual activity was 22,000 direct labor hours. Data for the first quarter are summarized as follows:

Static budget
(20,000 hours)

Actual costs
(22,000 hours)

Direct Materials

$ 80,000

$ 87,000

Direct labor

160,000

174,000

Rent

48,000

50,000

Total

$288,000

$311,000

2.

3. What is the flexible budget amount for the first quarter?

4. Answer

$288,000

$311,000

$312,000

$261,000

Cannot be determined

3 points
Question 28

1. During the year, Hawkings produced 10,000 units, used 20,000 direct labor hours, and incurred variable overhead of $90,000. Budgeted variable overhead for the year was $88,000. The hours allowed per unit are 2.1. The standard variable overhead rate is $4.00 per direct labor hour. The variable overhead spending variance is:

Answer

$2,000 F.

$6,000 U.

$10,000 U.

$2,000 U.

none of these.

3 points
Question 29

1. Budgeted variable overhead for the year is $120,000. Expected activity is 20,000 standard direct labor hours. The actual hours worked were 18,000 and the standard hours allowed for actual production were 19,500. The variable overhead efficiency variance is:

Answer

$0.

$12,000 F.

$3,000 F.

$9,000 F.

none of these.

3 points
Question 30

1. Lewis Company calculates its predetermined rates using practical volume, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Overhead is applied using direct labor hours. The total budgeted overhead is $3,168,000, of which $864,000 is fixed overhead. The actual results for the year are as follows:

Units produced: 280,000
Direct labor: 570,000 hours @ $9
Variable overhead: $2,320,000
Fixed overhead: $872,000

The predetermined fixed overhead rate is:

Answer

$3 per direct labor hour.

$1.50 per direct labor hour.

$5.50 per direct labor hour.

$4 per direct labor hour.

none of these.

3 points
Question 31

1. Lewis Company calculates its predetermined rates using practical volume, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Overhead is applied using direct labor hours. The total budgeted overhead is $3,168,000, of which $864,000 is fixed overhead. The actual results for the year are as follows:

Units produced: 280,000
Direct labor: 570,000 hours @ $9
Variable overhead: $2,320,000
Fixed overhead: $872,000

The predetermined variable overhead rate is:

Answer

$3.00 per direct labor hour.

$1.50 per direct labor hour.

$5.50 per direct labor hour.

$4.00 per direct labor hour.

none of these.

3 points
Question 32

1. Lewis Company calculates its predetermined rates using practical volume, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Overhead is applied using direct labor hours. The total budgeted overhead is $3,168,000, of which $864,000 is fixed overhead. The actual results for the year are as follows:

Units produced: 280,000
Direct labor: 570,000 hours @ $9
Variable overhead: $2,320,000
Fixed overhead: $872,000

Calculate the applied fixed overhead.

Answer

$840,000

$855,000

$864,000

$910,000

none of these

3 points
Question 33

1. Lewis Company calculates its predetermined rates using practical volume, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Overhead is applied using direct labor hours. The total budgeted overhead is $3,168,000, of which $864,000 is fixed overhead. The actual results for the year are as follows:

Units produced: 280,000
Direct labor: 570,000 hours @ $9
Variable overhead: $2,320,000
Fixed overhead: $872,000

Calculate the fixed overhead spending variance.

Answer

$32,000 F

$0

$8,000 U

$32,000 U

$8,000 F

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…Answer xxxxxx U xxx $3,750 U xxxxxx F and xxxxxx F xxxxxx x and xxxxxx U $2,250 x and $4,000 x 3 xxxxxx xxxxxxxx 16 x Caballero Corporation xxxxxxxx high-quality leather xxxxxxx The xxxxxxx xxx a xxxxxxxx cost system xxx has set xxx following xxxxxxxxx xxx materials xxx labor: Leather xxx strips @ xxxx $300 xxxxxx xxxxx (15 xxxxx @ $15) xxx Total prime xxxx $525 x xxxxxx the xxxx Caballero produced xxx saddles Actual xxxxxxx purchased xxx xxxxx strips, xx $12 per xxxxx There were xx beginning xx xxxxxx inventories xx leather Actual xxxxxx labor was xxxxx hours xx xxx per xxxx 3 4 xxxxxxx the total xxxxxx variances xxx xxxxxxxxx and xxxxxx respectively 5 xxxxxx $7,800 U xxx $6,250 x xxxxxx F xxx $6,250 U xxxxxx U and xxxxxx U xxxxxx x and xxxxxx F 3 xxxxxx Question 17 x Caballero xxxxxxxxxxx xxxxxxxx high-quality xxxxxxx saddles The xxxxxxx has a xxxxxxxx cost xxxxxx xxx has xxx the following xxxxxxxxx for materials xxx labor: xxxxxxx xxx strips x $15) $300 xxxxxx labor (15 xxxxx @ xxxx xxx Total xxxxx cost $525 x During the xxxx Caballero xxxxxxxx xxx saddles xxxxxx leather purchased xxx 3,100 strips, xx $12 xxx xxxxx There xxxx no beginning xx ending inventories xx leather xxxxxx xxxxxx labor xxx 2,500 hours xx $16 per xxxx 3 x xxxxxxx the xxxxxxxxx price variance xxx the materials xxxxx variance, xxxxxxxxxxxx x Answer xxxxxx F and xxxxxx U $9,300 x and xxxxxx x $9,000 x and $1,200 x $9,000 U xxx $1,200 x x points xxxxxxxx 18 1 xxxxxxx Builders makes xxx sorts xx xxxxxxxx Its xxxxxxxx quantity of xxxxxxxx allowed is x foot xx xxxx per x foot of xxxxxxx at a xxxxxxxx price xx xx 00 xxx foot During xxxxxxx it purchased xxxxxxx feet xx xxxx at x cost of xx 90 per xxxxx which xxxxxxxx xxxx 499,000 xxxx of molding xxxxxxxxx the materials xxxxx variance xxx xxx materials xxxxx variance, respectively xxxxxx $50,000 F xxx $2,000 x xxxxxxx U xxx $2,000 F xxxxxxx F and xxxxxx U xxxxxxx x and xxxxxx U 3 xxxxxx Question 19 x The xxxxxxxxx xxxx Company xxxxxxx Division) produced xxxxxxx saw blades xxxxxx the xxxx xx took x hours of xxxxx per blade xx a xxxx xx $5 xx per hour xxxxxxxx its standard xxxxx rate xx xx 00 xxx labor efficiency xxxxxxxx was a xxxxxxxxx $55,000 xxxx xx Fantastic’s xxxxxxxx hours allowed xxx a volume xx 100,000 xxxxxxx xxxxxx 211,000 xxxxx 189,000 hours xxxxxxx hours 190,000 xxxxx 3 xxxxxx xxxxxxxx 20 x The Fantastic xxxx Company (Mexico xxxxxxxxx produced xxxxxxx xxx blades xxxxxx the year xx took 2 xxxxx of xxxxx xxx blade xx a rate xx $5 50 xxx hour xxxxxxxx xxx standard xxxxx rate is xx 00 Its xxxxx efficiency xxxxxxxx xxx a xxxxxxxxx $55,000 What xx Fantastic’s labor xxxx variance? xxxxxx xxxxxxx U xxxxxxxx U $100,000 x $95,000 U x points xxxxxxxx xx 1 xxxx Professionals Corporation xxxxx to produce x new xxxxxxxxx xx financial xxxx is as xxxxxxxx Target price: xxxx Target xxxxxxx xxx Estimated xxxx given current xxxxxxx and process xxxxxxxx $300 xxxxx xxxxxxxxxxxx (1) xxxxxxx…
Attachments
180710_52969_1_TM_C_TTs040313-47450-3-word.doc (668.5 KB)
Preview: took x hours xx labor per xxxxx at a xxxx of x xx per xxxx However, its xxxxxxxx labor rate xx 5 xx xxx labor xxxxxxxxxx variance was x favorable 55,000 xxxx is xxxxxxxxxx xxxxx rate xxxxxxxx Answer HTMLCONTROL xxxxx HTMLOption 1 xxxxxx U xxxxxxxxxxx xxxxx HTMLOption x 105,500 U xxxxxxxxxxx Forms HTMLOption x 100,000 x xxxxxxxxxxx Forms xxxxxxxxxx 1 95,000 xx points Question xx Lawn xxxxxxxxxxxxx xxxxxxxxxxx wants xx produce a xxx lawnmower he xxxxxxxxx data xx xx followsTarget xxxxx 350Target profit xxxxxxxxxxx cost given xxxxxxx product xxx xxxxxxx designs xxxxxxxx information(1) Through xxxxxxx engineering, Lawn xxxxxxxxxxxxx found x xxxxxx improvement xxxx would save xx per unit xxx It xxxx xxxxx that xx could purchase x similar component xx a xxxxxxxxx xxxxx at x lower price, xxxxx would save xx per xxxx xxxx is xxxx Professionals target xxxx Answer HTMLCONTROL xxxxx HTMLOption x xxx HTMLCONTROL xxxxx HTMLOption 1 xxx HTMLCONTROL Forms xxxxxxxxxx 1 xxx xxxxxxxxxxx Forms xxxxxxxxxx 1 3503 xxxxxx Question 22 xxxx Professionals xxxxxxxxxxx xxxxx to xxxxxxx a new xxxxxxxxx he financial xxxx is xx xxxxxxxxxxxxx price xxxxxxxxx profit 75Estimated xxxx given current xxxxxxx and xxxxxxx xxxxxxx 300Other xxxxxxxxxxxxxx Through reverse xxxxxxxxxxxx Lawn Professionals xxxxx a xxxxxx xxxxxxxxxxx that xxxxx save 20 xxx unit (2) xx also xxxxx xxxx it xxxxx purchase a xxxxxxx component of x different xxxxx xx a xxxxx price, which xxxxx save 10 xxx unit xxxx xx Lawn xxxxxxxxxxxxx new expected xxxxxx Answer HTMLCONTROL xxxxx HTMLOption x xx HTMLCONTROL xxxxx HTMLOption 1 xxx HTMLCONTROL Forms xxxxxxxxxx 1 xx xxxxxxxxxxx Forms xxxxxxxxxx 1 503 xxxxxx Question 23 xxxxx budget xx xxxx to xxxxxxxx managerial efficiency xxxxxx HTMLCONTROL Forms xxxxxxxxxx 1 xxxxxxxxxxx xxxxxx HTMLCONTROL xxxxx HTMLOption 1 xxxxxxx budget HTMLCONTROL xxxxx HTMLOption x xxxxxx budget xxxxxxxxxxx Forms HTMLOption x flexible budget xxxxxxxxxxx Forms xxxxxxxxxx x cash xxxxxxx points Question xx The major xxxxxxxxxxx between xxxxxxxxxxxxxx xxxxxxxxx and xxxxxxxxxxx budgeting are xxxxx in Answer xxxxxxxxxxx Forms xxxxxxxxxx x the xxxxxxxxx and labor xxxxxxxxxx HTMLCONTROL Forms xxxxxxxxxx 1 xxx xxxxx and xxxxxxxxxx budgets HTMLCONTROL xxxxx HTMLOption 1 xxx cash xxxxxx xxxxxxxxxxx Forms xxxxxxxxxx 1 the xxxxxxxx and selling xxx administrative xxxxxxxxxx xxxxxxxxxxx Forms xxxxxxxxxx 1 none xx these3 points xxxxxxxx 25 xxxxxx xxx produces xxxxxxx purses Jason xxx developed a xxxxxx budget xxx xxx first xxxxxxxx based on xxxxxx direct labor xxxxx During xxx xxxxxxxx the xxxxxx activity was xxxxxx direct labor xxxxx Data xxx xxx first xxxxxxx are summarized xx follows Static xxxxxx (20,000 xxxxxxxxxxxx xxxxx (22,000 xxxxxxxxxxxx Materials 80,000 xxxxxxxxxxxx labor160,000174,000Rent48,00050,000Total288,000311,000 Comparing xxx static xxxxxx xx the xxxxxx outcomes, we xxx say the xxxxxxxxx Answer xxxxxxxxxxx xxxxx HTMLOption x the manager xxx more direct xxxxx hours xxxxxxxxxxx xxxxx HTMLOption x the variances xxx all unfavorable xxxxxxxxxxx Forms xxxxxxxxxx x the xxxxxxxxxx is not xxxxxx for assessing xxxxxxxxxx efficiency xxxxxxxxxxx xxxxx HTMLOption x a flexible xxxxxx should be xxxx for xxxxxxxxx xxxxxxxxxx HTMLCONTROL xxxxx HTMLOption 1 xxx of these x points xxxxxxxx xx Jason, xxx produces leather xxxxxx Jason has xxxxxxxxx a xxxxxx xxxxxx for xxx first quarter, xxxxx on 20,000 xxxxxx labor xxxxx xxxxxx the xxxxxxxx the actual xxxxxxxx was 22,000 xxxxxx labor xxxxx xxxx for xxx first quarter xxx summarized as xxxxxxx Static xxxxxxxxxxxxx xxxxxxxxxxxx costs(22,000 xxxxxxxxxxxx Materials 80,000 xxxxxxxxxxxx labor160,000174,000Rent48,00050,000Total288,000311,000 What xx the xxxxxxxx xxxxxx variance xxx the first xxxxxxx Answer HTMLCONTROL xxxxx HTMLOption x xxxxx U xxxxxxxxxxx Forms HTMLOption x 23,000 U xxxxxxxxxxx Forms xxxxxxxxxx x 1,000 x HTMLCONTROL Forms xxxxxxxxxx 1 23,000 x HTMLCONTROL xxxxx xxxxxxxxxx 1 xxxx of these x points Question xx Jason, xxx xxxxxxxx leather xxxxxx Jason has xxxxxxxxx a static
180710_52969_2_TM_C_TTs040313-47450-3.xlsx (13.3 KB)
Preview: Goods xxxxxxxxx Sales xxxxxxxx to be xxxxxxxxxxxxx = 2% xx May’s xxxx x 2% xx 100000June’s sale xxxxxxxxx in July x 120000*60%Budgeted xxxx xx AugustMayJuneJuly xxxxxxxxxxxx CostMaterialLaborLabor Rate xxxxxxxx =(Standard Rate- xxxxxx Rate)*Actual xxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Effeciency xxxxxxxxxxxxx Efficiency Variance(Standard xxxxxx Actual Hours)*Standard xxxxxxxxxx Variance xxxxxxxx xxxxxxxx
180710_52969_2_TM_C_TTs040313-47450-3-word.doc (667 KB)
Preview: Answer xxxxxxxxxxx Forms xxxxxxxxxx 1 9,300 x and 1,500 x HTMLCONTROL xxxxx xxxxxxxxxx 1 xxxxx U and xxxxx F HTMLCONTROL xxxxx HTMLOption x xxxxx F xxx 1,200 U xxxxxxxxxxx Forms HTMLOption x 9,000 x xxx 1,200 xx points Question xx Perfect Builders xxxxx all xxxxx xx moldings xxx standard quantity xx material allowed xx 1 xxxx xx wood xxx 1 foot xx molding at x standard xxxxx xx 2 xx per foot xxxxxx August, it xxxxxxxxx 500,000 xxxx xx wood xx a cost xx 1 90 xxx foot, xxxxx xxxxxxxx only xxxxxxx feet of xxxxxxx Calculate the xxxxxxxxx price xxxxxxxx xxx the xxxxxxxxx usage variance, xxxxxxxxxxxx Answer HTMLCONTROL xxxxx HTMLOption x xxxxxx F xxx 2,000 U xxxxxxxxxxx Forms HTMLOption x 49,900 x xxx 2,000 x HTMLCONTROL Forms xxxxxxxxxx 1 50,000 x and xxxxx x HTMLCONTROL xxxxx HTMLOption 1 xxxxxx F and xxxxx U3 xxxxxx xxxxxxxx 19 xxx Fantastic Tool xxxxxxx (Mexico Division) xxxxxxxx 100,000 xxx xxxxxx during xxx year It xxxx 2 hours xx labor xxx xxxxx at x rate of x 50 per xxxx However, xxx xxxxxxxx labor xxxx is 5 xx Its labor xxxxxxxxxx variance xxx x favorable xxxxxx What is xxxxxxxxxx standard hours xxxxxxx for x xxxxxx of xxxxxxx blades Answer xxxxxxxxxxx Forms HTMLOption x 211,000 xxxxx xxxxxxxxxxx Forms xxxxxxxxxx 1 189,000 xxxxx HTMLCONTROL Forms xxxxxxxxxx 1 xxxxxxx xxxxx HTMLCONTROL xxxxx HTMLOption 1 xxxxxxx hours3 points xxxxxxxx 20 xxx xxxxxxxxx Tool xxxxxxx (Mexico Division) xxxxxxxx 100,000 saw xxxxxx during xxx xxxx It xxxx 2 hours xx labor per xxxxx at x xxxx of x 50 per xxxx However, its xxxxxxxx labor xxxx xx 5 xx Its labor xxxxxxxxxx variance was x favorable xxxxxx xxxx is xxxxxxxxxx labor rate xxxxxxxx Answer HTMLCONTROL xxxxx HTMLOption x xxxxxx U xxxxxxxxxxx Forms HTMLOption x 105,500 U xxxxxxxxxxx Forms xxxxxxxxxx x 100,000 x HTMLCONTROL Forms xxxxxxxxxx 1 95,000 xx points xxxxxxxx xx Lawn xxxxxxxxxxxxx Corporation wants xx produce a xxx lawnmower xx xxxxxxxxx data xx as followsTarget xxxxx 350Target profit xxxxxxxxxxx cost xxxxx xxxxxxx product xxx process designs xxxxxxxx information(1) Through xxxxxxx engineering, xxxx xxxxxxxxxxxxx found x design improvement xxxx would save xx per xxxx xxx It xxxx found that xx could purchase x similar xxxxxxxxx xx a xxxxxxxxx brand at x lower price, xxxxx would xxxx xx per xxxx What is xxxx Professionals target xxxx Answer xxxxxxxxxxx xxxxx HTMLOption x 275 HTMLCONTROL xxxxx HTMLOption 1 xxx HTMLCONTROL xxxxx xxxxxxxxxx 1 xxx HTMLCONTROL Forms xxxxxxxxxx 1 3503 xxxxxx Question xx xxxx Professionals xxxxxxxxxxx wants to xxxxxxx a new xxxxxxxxx he xxxxxxxxx xxxx is xx followsTarget price xxxxxxxxx profit 75Estimated xxxx given xxxxxxx xxxxxxx and xxxxxxx designs 300Other xxxxxxxxxxxxxx Through reverse xxxxxxxxxxxx Lawn xxxxxxxxxxxxx xxxxx a xxxxxx improvement that xxxxx save 20 xxx unit xxx xx also xxxxx that it xxxxx purchase a xxxxxxx component xx x different xxxxx at a xxxxx price, which xxxxx save xx xxx unit xxxx is Lawn xxxxxxxxxxxxx new expected xxxxxx Answer xxxxxxxxxxx xxxxx HTMLOption x 75 HTMLCONTROL xxxxx HTMLOption 1 xxx HTMLCONTROL xxxxx xxxxxxxxxx 1 xx HTMLCONTROL Forms xxxxxxxxxx 1 503 xxxxxx Question xx xxxxx budget xx used to xxxxxxxx managerial efficiency xxxxxx HTMLCONTROL xxxxx xxxxxxxxxx 1 xxxxxxxxxxx budget HTMLCONTROL xxxxx HTMLOption 1 xxxxxxx budget xxxxxxxxxxx xxxxx HTMLOption x static budget xxxxxxxxxxx Forms HTMLOption x flexible xxxxxx xxxxxxxxxxx Forms xxxxxxxxxx 1 cash xxxxxxx points Question xx The xxxxx xxxxxxxxxxx between xxxxxxxxxxxxxx budgeting and xxxxxxxxxxx budgeting are xxxxx in xxxxxx xxxxxxxxxxx Forms xxxxxxxxxx 1 the xxxxxxxxx and labor xxxxxxxxxx HTMLCONTROL xxxxx xxxxxxxxxx 1 xxx sales and xxxxxxxxxx budgets HTMLCONTROL xxxxx HTMLOption x xxx cash xxxxxx HTMLCONTROL Forms xxxxxxxxxx 1 the xxxxxxxx and xxxxxxx xxx administrative
180710_52969_1_TM_C_TTs040313-47450-3.xlsx (13.3 KB)
Preview: (Standard xxxxx Cost- xxxxxx Labor Cost) xxxxxxxxxxxxxxxxxxxxxxx Price Variance(Standard xxxxxxxxxxxx Price)* xxxxxx xxxxxxxxxxxxx Usage xxxxxxxxxxxxxxxxx Units-Actual Units)*Standard xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 9)*500000(499,000-500000)*2(Standard Hours- xxxxxx Hours)* xxxxxxxx xxxx = xxxxxxxxxxxxxxxx Hours = xxxxxxxxxxxxxxxxxxxxxx Hours = xxxxx Rate xxxxxxxx x (Standar xxxxx Actual Rate)*Actual xxxxx LRV = xxxx 5)*200,000Labor xxxx xxxxxxxx = xxxxxx
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