Question
In: Accounting
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information
Use the following information for the Exercises below.
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displayed below.]
Hart Company made 3,280 bookshelves using 22,280 board feet of wood
costing $300,780. The company's direct materials standards for one
bookshelf are 8 board feet of wood at $13.40 per board foot.
Exercise 08-13 Computing and interpreting materials variances LO P3
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
(1) Compute the direct materials price and
quantity variances and classify each as favorable or
unfavorable.
(2) Hart applies management by exception by
investigating direct materials variances of more than 5% of actual
direct materials costs. Which direct materials variances will Hart
investigate further?
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information
Use the following information for the Exercises below.
[The following information applies to the questions
displayed below.]
Hemming Co. reported the following current-year purchases and sales
for its only product.
Date
Activities
Units Acquired at Cost
Units Sold at Retail
Jan.
1
Beginning
inventory
280
units
@
$13.20
=
$
3,696
Jan.
10
Sales
240
units
@ $43.20
Mar.
14
Purchase
460
units
@ $18.20
=
8,372
Mar.
15
Sales
410
units
@ $43.20
July
30...
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information
Use the following information for the Exercises below.
[The following information applies to the questions
displayed below.]
Hemming Co. reported the following current-year purchases and sales
for its only product.
Date
Activities
Units Acquired at Cost
Units Sold at Retail
Jan.
1
Beginning inventory
270
units
@ $12.80
=
$
3,456
Jan.
10
Sales
220
units
@ $42.80
Mar.
14
Purchase
400
units
@ $17.80
=
7,120
Mar.
15
Sales
340
units
@ $42.80
July
30...
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information
Use the following information for the Exercises below.
[The following information applies to the questions
displayed below.]
Laker Company reported the following January purchases and sales
data for its only product.
Date
Activities
Units Acquired at Cost
Units sold at Retail
Jan.
1
Beginning inventory
185
units
@
$
11.00
=
$
2,035
Jan.
10
Sales
145
units
@
$
20.00
Jan.
20
Purchase
100
units
@
$
10.00
=
1,000
Jan.
25
Sales
125
units
@
$...
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information
Use the following information for the Exercises below.
[The following information applies to the questions
displayed below.]
Laker Company reported the following January purchases and sales
data for its only product.
Date
Activities
Units Acquired at Cost
Units sold at Retail
Jan.
1
Beginning inventory
225
units
@
$
15.00
=
$
3,375
Jan.
10
Sales
175
units
@
$
24.00
Jan.
20
Purchase
180
units
@
$
14.00
=
2,520
Jan.
25
Sales
210
units
@
$...
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information
Use the following information for the Exercises below.
[The following information applies to the questions
displayed below.]
The following data is provided for Garcon Company and Pepper
Company.
Garcon Company
Pepper Company
Beginning finished goods
inventory
$
12,100
$
17,950
Beginning work in process
inventory
19,000
23,100
Beginning raw materials
inventory
11,700
10,050
Rental cost on factory
equipment
28,750
25,900
Direct labor
20,600
37,400
Ending finished goods
inventory
20,600
13,100
Ending work in process
inventory
22,900
21,600
Ending...
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information
Use the following information for the Exercises below.
[The following information applies to the questions
displayed below.]
Laker Company reported the following January purchases and sales
data for its only product.
Date
Activities
Units Acquired at Cost
Units sold at Retail
Jan.
1
Beginning
inventory
180
units
@
$
10.50
=
$
1,890
Jan.
10
Sales
140
units
@
$
19.50
Jan.
20
Purchase
110
units
@
$
9.50
=
1,045
Jan.
25
Sales
130
units...
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information Use the following information for the
Exercises below. [The following information applies to the
questions displayed below.] Laker Company reported the following
January purchases and sales data for its only product. Date
Activities Units Acquired at Cost Units sold at Retail Jan. 1
Beginning inventory 150 units @ $ 7.50 = $ 1,125 Jan. 10 Sales 110
units @ $ 16.50 Jan. 20 Purchase 80 units @ $ 6.50 = 520 Jan. 25
Sales 90 units @ $...
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information Use the following information for the
Exercises below. [The following information applies to the
questions displayed below.] Megamart, a retailer of consumer goods,
provides the following information on two of its departments (each
considered an investment center). Investment Center Sales Income
Average Invested Assets Electronics $ 39,840,000 $ 2,988,000 $
16,600,000 Sporting goods 25,200,000 2,142,000 12,600,000 Exercise
9-10 Computing return on investment and residual income; investing
decision LO A1 1. Compute return on investment for each department.
Using...
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information
Use the following information for the Exercises below.
[The following
information applies to the questions displayed below.]
BMX Company has one employee. FICA Social Security taxes are 6.2%
of the first $118,500 paid to its employee, and FICA Medicare taxes
are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA
taxes are 2.9% of the first $7,000 paid to its employee.
Gross Pay through August
Gross Pay for September
a.
$
6,400
$
1,700...
Required information Use the following information for the Exercises below. [The following information applies to the...
Required information
Use the following information for the Exercises below.
[The following
information applies to the questions displayed below.]
BMX Company has one employee. FICA Social Security taxes are 6.2%
of the first $118,500 paid to its employee, and FICA Medicare taxes
are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA
taxes are 2.9% of the first $7,000 paid to its employee.
Gross Pay through August
Gross Pay for September
a.
$
6,400
$
1,700...
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