Entries by mary WAMBUGU

Annapolis Company completes job #601 which has a standard of 500 labor hours at a standard rate of $18.90 per hour. The job was completed in 510 hours and the average actual labor rate was $19.40 per hour.

August 30, 2019 in /by

Annapolis Company completes job #601 which has a standard of 500 labor hours at a standard rate of $18.90 per hour. The job was completed in 510 hours and the average actual labor rate was $19.40 per hour. What is the labor efficiency (quantity) variance? A negative number indicates an favorable variance and a positive number indicates an […]

 

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Ocean City Kite Company manufactures & sells kites for $8.50 each. The variable cost per kite is $3.00 with the current annual sales volume of 50,000 kites.

August 30, 2019 in /by

Question Ocean City Kite Company manufactures & sells kites for $8.50 each. The variable cost per kite is $3.00 with the current annual sales volume of 50,000 kites. This volume is currently Ocean City Kite’s breaking even point. Use this information to determine the dollar amount of Ocean City Kite Company’s fixed costs. (Round dollar […]

 

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The following totals are used to for CVP Income Statement for Frederick Company for FY2018: Frederick Company Selected Financial Figures

August 30, 2019 in /by

The following totals are used to for CVP Income Statement for Frederick Company for FY2018: Frederick Company Selected Financial Figures For the Year Ended 12/31/18 Sales (100 units) $10,000 Variable Costs:      Direct Labor $1,400      Direct Materials 1,550      Factory Overhead (variable) 2,000      Selling Expenses (variable) 600      Administrative Expenses (variable) 500 Fixed Costs:      Factory Overhead (fixed) $600 […]

 

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Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued 90,000 shares of $8 par value common stock at a price of $50 cash per share.

August 30, 2019 in /by

1) Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued 90,000 shares of $8 par value common stock at a price of $50 cash per share.  On December 31, 2018, Towson reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to determine the dollar amounts that Towson […]

 

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