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In: Accounting
1. Cornell Industries is a manufacturing company that produces a single product known as “Black Hole...
1. Cornell Industries is a manufacturing company that produces a single product known as “Black Hole Sun” telescopes. In analyzing production results, standard costs are used, and are as follows: Raw Materials per Unit 1 Pound @ $10.00 Per Pound Direct Labor per Unit 2 Hours @ $ 4.00 Per Hour Factory Overhead per Unit 2 Hours @ $ 1.25 Per Hour Budgeted fixed overhead for standard hours allowed for April production is $8,000. Cost applicable to April production are as follows: Production Information Actual Cost Standard Cost Raw Materials 11,000 Pounds $121,000 $100,000 Direct Labor 25,000 Hours $105,000 $ 82,400 Factory Overhead $ 31,930 $ 25,750 Calculate the following variances (as either favorable or unfavorable):
Factory overhead budget efficiency and spending volume variances A) $5,500 Unfavorable; $7,320 Favorable B) $5,500 Favorable; $7,320 Unfavorable C) $4,400 Favorable; $1,820 Unfavorable D) $4,400 Unfavorable; $1,820 Favorable
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ekkarill92 answered 1 year agoRelated Solutions
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March
April
May
June
Sales in units
6,800
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7,050
7,300
Sales revenue
$
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$
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$
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$
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Less: Cost of goods sold
418,500
393,000
426,250
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375,600
433,850
446,600
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71,000
79,250
80,000...
The Central Valley Company is a manufacturing firm that produces and sells a single product. The...
The
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last four months are given below.
Central Valley Company
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March
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May
June
Sales in units
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5,300
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7,600
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$
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$
825,600
$
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392,200
366,336
429,312
496,128
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$
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The Central Valley Company is a manufacturing firm that produces and sells a single product. The...
The Central Valley Company is a manufacturing firm that produces
and sells a single product. The company’s revenues and expenses for
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Units completed and transfer to finished goods store Rs.
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Materials price
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Labor quantity per unit
2
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Labor price
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A manufacturing company that produces a single product has provided the following data concerning its most...
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Units in
beginning inventory
0
Units
produced
2,630
Units sold
2,500
Units in ending
inventory
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Variable costs
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Direct
materials
$
49
Direct
labor
$
17
Variable
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$
8
Variable selling
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Fixed
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84,160
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last oneee i think
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Selling
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Units in
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0
Units
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Units sold
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Units in ending
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materials
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Direct
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A manufacturing company that produces a single product has provided the following data concerning its most...
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Units sold
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Units in ending inventory
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