Direct Labor Variances

Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October of the current year are available:

a. Determine for October the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

b. How much direct labor should be debited to Work in Process?
$

Marigold Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2018.

(a) Using the conventional retail method, prepare a schedule computing estimated lower-of-cost-or-market inventory for October 31, 2018. (Round ratios for computational purposes to 0 decimal places, e.g 78% and final answer to 0 decimal places, e.g. 28,987.)

AH Corp has the following budgeted unit sales for the second half of the 2020: Month Unit Sales July 90,000 August 120,000 September 210,000 October 150,000 November 180,000 December 120,000 It is expected to have 30,000 units of finished goods in inventory at the beginning of budget period and the plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of material costs $8. Inventory levels for materials are equal to 30% of the needs for the next month. Materials inventory on at the start of the budget period was 15,000 pounds. Required: Prepare production budgets in units for August, September, and October. Prepare a purchases budget in pounds for August, September, and October., and give total purchases in both pounds and dollars for each month.

Perpetual Inventory Using Weighted Average

Beginning inventory, purchases, and sales for WCS12 are as follows:

a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places.
$per unit

b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places.
$

c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.
$

Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October are available:

a. Determine for October the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

b. How much direct labor should be debited to Work in Process?
$

Beginning inventory, purchases, and sales for WCS12 are as follows:

a. Assuming a perpetual inventory system and using the weighted average cost method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places.
$fill in the blank 1per unit

b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places.
$fill in the blank 2

c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.
$fill in the blank 3

Novak Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2021.

(a) Using the conventional retail method, prepare a schedule computing estimated lower-of-cost-or-market inventory for October 31, 2021. (Round ratios for computational purposes to 0 decimal places, e.g 78% and final answer to 0 decimal places, e.g. 28,987.)

You are an equity analyst and have computed the following figures for two cement companies. The first, CementCo, has NOPLAT of $1,550 million, and invested capital without goodwill of $15,000 million. The second, CementExports, has NOPLAT of $1,750 million, and invested capital without goodwill of $16,000 million. If the cost of capital for both firms is 10 percent, what is the ROIC for each company? Which company is creating value in this year?

a.) ROIC is 10.3 percent for Cement CO and 10.9 percent for CementExports; both companies are creating value

b.) ROIC is 9.1 percent for Cement CO and 10.9 percent for CementExports; both companies are creating value

c.) ROIC is 9.1 percent for Cement CO and 10.9 percent for CementExports; only CementExports is creating value

d.) ROIC is 10.3 percent for Cement CO and 10.9 percent for CementExports; neither of the companies are creating value

e.) ROIC is 10.3 percent for Cement CO and 11.2 percent for CementExports; both companies are creating value

A student ran the following reaction in the laboratory at 610 K:

CO(g) + Cl2(g) COCl2(g)

When she introduced 0.183 moles of CO(g) and 0.211 moles of Cl2(g) into a 1.00 liter container, she found the equilibrium concentration of Cl2(g) to be 6.72×10-2 M.  

Calculate the equilibrium constant, Kc, she obtained for this reaction.

2.A student ran the following reaction in the laboratory at 546 K:

COCl2(g) CO(g) + Cl2(g)  

When she introduced 0.854 moles of COCl2(g) into a 1.00 liter container, she found the equilibrium concentration of COCl2(g) to be 0.817 M.  

Calculate the equilibrium constant, Kc, she obtained for this reaction.

3. Consider the following reaction:

COCl2(g) CO(g) + Cl2(g)

If 6.56×10-3 moles of COCl2, 0.377 moles of CO, and 0.372 moles of Cl2 are at equilibrium in a 16.9 L container at 772 K, the value of the equilibrium constant, Kp, is

Household Income in Maryland:

According to Money magazine, Maryland had the highest median annual household income of an state in 2018 at $75,847 (Time.com website). Assume that annual household income in Maryland follows a normal distribution with a median of $75,847 and a standard deviation of $33,800.

a. What is the probability that a household in Maryland has an annual income of $100,000 or more?

b. What is the probability that a household in Maryland has an annual income of $40,000 or less?

c. What is the probability that a household in Maryland has an annual income between $50,000 and $70,000?

d. What is the annual income of a household in the 90th percentile of annual household income in Maryland?