The city of Springfield wants to discourage the consumption…
The city of Springfield wants to discourage the consumption of liquor. So the city imposes a 50% city liquor tax, to begin on the first of next month. What happens to the demand for liquor in Springfield between now and the first of next month
Read DetailsSolly Corporation produces a product for national distributi…
Solly Corporation produces a product for national distribution. Standards for the product are:Materials: 12 ounces per unit at 60¢ per ounce.Labor: 2 hours per unit at $8 per hour.During the month of December, the company produced 1,000 units. Information for the month follows:Materials: 14,000 ounces purchased and used at a total cost of $7,700.Labor: 2,500 hours worked at a total cost of $20,625.The labor rate variance is:
Read DetailsThe following data have been provided by Moretta Corporation…
The following data have been provided by Moretta Corporation, a company that produces forklift trucks:Budgeted production 3,400 trucksStandard machine-hours per truck 2.9 machine-hoursStandard supplies cost $1.50 per machine-hourActual production 3,800 trucksActual machine-hours 10,930 machine-hoursActual supplies cost (total) $17,496Supplies cost is an element of variable manufacturing overhead. The variable overhead efficiency variance for supplies cost is:
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