After evaluating Null Company's manufacturing process, management decides to establish standards of 3 hours of direct labor per unit of product and 15.90 per hour for the labor rate. During October, the company uses 19,100 hours of direct labor at a 307,510 total coset to produce 6500 units of product . In November, the company uses 21,400 hours of direct labor at 346,680 total cost to produce 6,800 units of product. 1) compute the rate varieance the efficiencty vairiances and the total direct labor cost variance for each of these two months October and November

Entries for Stock Dividends

Madrid Corporation has 25,000 shares of $80 par common stock outstanding. On August 2, Madrid Corporation declared a 5% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $110 per share on August 2.

Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank.

Daube Industries’ operations for the month of October are summarized as follows: Provided $5,800 of services on account. Received $3,900 cash for services provided in October. Received $1,600 cash for services to be provided in November. Received $2,700 cash on account for service provided in September. Paid September’s warehouse rental bill on account in the amount of $1,400. Received October’s rental bill of $1,300; set it aside. Required: Prepare journal entries to record the transactions identified among activities (A) through (F). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Each response should be about one paragraph long, describing the justification for your decision.

On October 1st, a customer orders a Roomba 980 robotic vacuum from iRobot. The product has a 14 day trial period, which begins on the date of delivery. If the customer does not want the product at the end of the trial period, he must return the product in its original packaging, in good condition, within 21 days of the delivery date, to receive a full refund. The Roomba 980 is delivered on October 5th. Are the revenue recognition criteria met or not met? Why or why not?

A company issues $896,000 of 5-year, 5% bonds on January 1, 2021. The bonds pay interest annually.

1) Calculate the issue price of the bonds using a market rate of 4%

2) Record the bond issue

3) Prepare an effective interest amortization table for the bonds

4) Prepare the journal entries to record the first three interest payments. Ignore any year-end accruals of interest

5) Assuming the company has an October 31 year end, prepare the adjusting entry for interest on October 31, 2021.

Use the following information on the U.S. dollar value of the euro.

On October 30, 2020, a U.S. company receives a purchase order from a customer in Spain. Under the sale terms, the customer will pay the company €100,000 on April 30. On October 30, the U.S. company also enters a forward contract to sell €100,000 on April 30, 2021. The company delivers the merchandise to the customer on November 1. On April 30, the company receives €100,000 from the customer and sells it using the forward contract. The company's accounting year ends December 31.

What net gain or loss is recognized in 2020, in addition to sales revenue?

The ledger of Crane Limited at October 31, 2021, contains the following summary data:

Your analysis reveals the following additional information:

Prepare a journal entry to correct the prior period error.

Prepare the journal entry to record the reacquisition of common shares

Calculate profit for the year ended October 31, 2021

Prepare the statement of retained earnings for the company for the year ended October 31, 2021.

3) The following gives the number of pints of type B blood used at Woodlawn Hospital in the past 6 weeks:

1. Forecast the demand for the week of October 12 using a 3-week moving average.

2. Compute the forecast for the week of October 12 using exponential smoothing with a forecast for August 31 of 360 and α = .2

5) Southeastern Bell stocks a certain switch connector at its central warehouse for supplying field service offices. The yearly demand for these connectors is 15,000 units. Southeastern estimates its annual holding cost for this item to be $25 per unit. The cost to place and process an order from the supplier is $75. The company operates 300 days per year, and the lead time to receive an order from the supplier is 2 working days.

a) Find the economic order quantity

b) What is the reorder point?