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2 years ago

Leonesio Corporation makes a product that uses a material with the following standards:

Business

1 answer:

beks73 [17]2 years ago

5 0

Answer:

$5440 Unfavorable

Explanation:

Given that

Actual production = 3,200 units

Actual quantity = 27,600 kilos

Standard price = $4.00 per kilos

Standard quantity = 8.2 kilos per unit

The computation of materials quantity variance is given below:-

= (Standard quantity - Actual quantity) × Standard price

= (26,240 kilos - 27,600 kilos) × $4.00 per kilos

= $5440 Unfavorable

So,

Standard quantity = Actual production × Standard quantity

= 3,200 units × 8.2 kilos per unit

=26,240 kilos

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Klumper Corporation is a diversified manufacturer of industrial goods. The company’s activity-based costing system contains the

yanalaym [24]

Answer:

K425= $1,874

M67= $10,540

Explanation:

Giving the following information:

Activity Cost Pool Activity Rates

Supporting direct labor $ 6 per direct labor-hour

Machine processing $ 4 per machine-hour

Machine setups $ 50 per setup

Production orders $ 90 per order

Shipments $ 14 per shipment

Product sustaining $ 840 per product

Total Expected Activity

K425 M67

Number of units produced per year 200 2,000

Direct labor-hours 80 500

Machine-hours 100 1,500

Machine setups 1 4

Production orders 1 4

Shipments 1 10

Product sustaining 1 1

To allocate overhead to each product, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

K425= (6*80) + (4*100) + (50*1) + (90*1) + (14*1) + (840*1)

K425= $1,874

M67= (6*500) + (4*1,500) + (50*4) + (90*4) + (14*10) + (840*1)

M67= $10,540

5 0

2 years ago

PeopleMag sells a plot of land for $100,000 to Seven Star Company, its 100 percent owned subsidiary, on January 1, 20X7. The cos

Kaylis [27]

Answer:

PeopleMag cannot report a gain on the sale of land for 2007 or 2008 in the consolidated financial statements

Explanation:

PeopleMag cannot report a gain on the sale of land for 2007 or 2008 in the consolidated financial statements. The land must be reported on the consolidated balance sheet at its original cost of $75,000. The intercompany gain is unrealized and is eliminated. In 2009, the entire gain of $45,000 ($120,000 - $75,000) is realized and recognized when the land is sold to an outside party.

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2 years ago

Wendy, the CEO of an oil drilling company, and her top management team recently discovered that their facilities are damaging a

wel

Answer: Bagley's ethical leader's decision tree

Explanation: In simple words, It refers to a framework that helps the managers of an organisation to take decisions regarding which they are uncertain and doubtful. It take into consideration all the possibilities and shortlists them on the basis of situation priorities.

In the given case, Wendy wants to determine whether they should close the facility temprarily or permanently. They are uncertain which action would be legal and correct.

Hence from the above we can conclude that they are using Bagley decision tree.

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2 years ago

On January 1, Jim Shorts Corporation issued $300 million face value bonds for $580 million. During the same year, $1,500,000 of

ankoles [38]

Answer: a deduction from net income of $1,500,000.

Explanation:

Based on the statements provided in the question, it should be noted that Jim Shorts Corporation should report a deduction from net income of $1,500,000 on the statement of cash flows prepared by the indirect method.

It should be noted that the caah flow statement would start the accrual basis of the net income under an indirect method of the cash flow and then, all the non-cash items would either be added or subtracted in order for the reconciliation of account.

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2 years ago

A question asked in a market survey asks for a respondent's favorite car color. which measure of central location should be used

nata0808 [166]

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2 years ago