The Carey Company buys inventory for $30 each and sells them…
The Carey Company buys inventory for $30 each and sells them for $70 each; the company has the following sales forecast: 600 units for November 900 units for December 700 units for January Ending inventory for each month should be 10% of the next month’s sales. The company has monthly rent of $2,400 and payroll of $6,800. The company had 30 units on hand on November 1st. What is budgeted net income for November?
Read DetailsThe Morissette Corporation developed standards for the manuf…
The Morissette Corporation developed standards for the manufacture of its product such that each unit should have three pounds of direct materials purchased at $6 per pound and each unit should be produced in two hours at a direct labor cost of $16 per hour. Actual production was 18,000 units using 50,000 pounds of direct materials at a total cost of $286,000 and required 580 direct labor hours at a total cost of $10,400. What was the total direct materials variance for the company? Use a positive number to indicate a favorable variance or a negative number to indicate an unfavorable variance.
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