Entries by mary WAMBUGU

Sally and Andy are partners in Just Hats, LLC. Andy works in the business for an agreed salary draw of $4,000 per month.

August 24, 2019 in /by

Question Sally and Andy are partners in Just Hats, LLC. Andy works in the business for an agreed salary draw of $4,000 per month. Sally has invested $200,000 in the business and Andy invested $100,000. THe net income of the business is $168,000 for the year. Income is distributed based on the investment of each partner after allocation for […]

 

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Terry Company completes job #601 which has a standard of 640 labor hours at a standard rate of $18.70 per hour.

August 24, 2019 in /by

Question Terry Company completes job #601 which has a standard of 640 labor hours at a standard rate of $18.70 per hour. The job was completed in 600 hours and the average actual labor rate was $19.20 per hour. What is the labor rate variance? A negative number indicates an favorable variance and a positive number indicates an […]

 

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Valley City Kite Company sells kites for $9.00 per kite. In FY 2019, total fixed costs are expected to be $190,000 and variable costs are estimated at $5.00 a unit.

August 24, 2019 in /by

Question Valley City Kite Company sells kites for $9.00 per kite. In FY 2019, total fixed costs are expected to be $190,000 and variable costs are estimated at $5.00 a unit. Valley City Kite Company wants to have a FY 2019 operating income of $80,000. Use this information to determine the number of units of kites […]

 

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Caddy Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:

August 24, 2019 in /by

Question Caddy Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 4.00 yards at $5.75 per yard Direct labor of 3.00 hours at $19.00 per hour Overhead applied per sleeping bag at $20.00 In the month of April, the company actually […]

 

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