1. Japan Company produces lamps that require 2 standard hours per unit at a standard hourly rate of $17.20 per hour. Production of 5,500 units required 10,780 hours at an hourly rate of $16.70 per hour.

   What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? Enter favorable variances as negative numbers.

   a. Direct labor rate variance	$	Unfavorable
   b. Direct labor time variance	$	Unfavorable
   c. Total direct labor cost variance	$	Unfavorable

Margin of Safety and Operating Leverage

Medina Company produces a single product. The projected income statement for the coming year is as follows:

Required:

1. Compute the break-even sales dollars.
$

2. Compute the margin of safety in sales dollars.
$

3. Compute the degree of operating leverage.

4. Compute the new operating income if sales are 20% higher than expected.
$

The following units of an item were available for sale during the year:

The firm uses the perpetual inventory system, and there are 35 units of the item on hand at the end of the year.

a. What is the total cost of the ending inventory according to FIFO?

b. What is the total cost of the ending inventory according to LIFO?

Royal Company manufactures two products, Tables and Seats. Both products are manufactured in a single factory. There is $1,600,000 of factory overhead budgeted for the period. Royal Company plans to manufacture 1,000 units of each product. Assume tables and seats both require 10 direct labor hours per unit to manufacture. Required:

1. Determine the total cost for a table and for the seat.

2. Based on that determine the selling price for the table and for the seat, when company wants to earn 40% of profit margin on total cost..

"Machine A has an immediate cost of $13,000, and it will earn a net income of $6600 per year for a total of 7 years. Machine B has an immediate cost of $24,000, and it will earn a net income of $4600 per year for a total of 28 years. Assume that Machine A can continually be replaced at the end of its useful life with an identical replacement. Neither machine has any salvage value. Enter the annual equivalent worth of the machine that is the best alternative if the interest rate is 14.8%. If neither machine is acceptable, enter 0."

Parkette, Inc., acquired a 60 percent interest in Skybox Company several years ago. During 2017, Skybox sold inventory costing $188,000 to Parkette for $235,000. A total of 13 percent of this inventory was not sold to outsiders until 2018. During 2018, Skybox sold inventory costing $225,320 to Parkette for $262,000. A total of 30 percent of this inventory was not sold to outsiders until 2019. In 2018, Parkette reported cost of goods sold of $577,500 while Skybox reported $365,000. What is the consolidated cost of goods sold in 2018?

(For entries with a​ $0 balance, make sure to enter​ "0" in the appropriate cell. Round the contribution margin percentage to the nearest whole​ percent.) Variable Fixed Total Operating Contribution Case Revenues Costs Costs Costs Income Margin Percentage.

Please fill in all the missing data where the question marks are.

Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter.

Assume that you’ve owned and operated a very successful elite seafood restaurant in a rather small strip mall for several years. A Red Lobster chain seafood restaurant is just about to open across the street from you in another strip mall. Explain how this may affect your total revenue, marginal revenue, marginal cost, and total cost. In other words what, if any, changes would you have to make to what, how, and how much you produce to remain competitive