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“The Carlquist Company makes and sells a product called Product K. Each unit of Product K sells for $24 dollars and has a unit variable cost of $18. The company has budgeted the following data for November: I. Sales of $1,152,000, all in cash. II. A cash balance on November 1 of $48,000. III. Cash disbursements (other than interest) during November of $1,160,000. IV. A minimum cash balance on November 30 of $60,000. If necessary, the company will borrow cash from a bank. The borrowing will be in multiples of $1,000 and will bear interest at 2% per month. All borrowing will take place at the beginning of the month. The November interest will be paid in cash during November.93. The amount of cash needed to be borrowed on November 1 to cover all cash disbursements and to obtain the desired November 30 cash balance is: a. $20,000. b. $21,000. c. $37,000. d. $38,000.”,”2. The amount of cash needed to be borrowed on November 1, :Cash balance 11/1 $48,000+ Sales 1,152,000Total 1,200,000- Cash disbursements 1,16,000Available cash at end of month $40,000Because the minimum balance required is $60000, Calquist Company needs to borrow $21
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“The Carlquist Company makes and[…]
Read more“Pardoe, Inc., manufactures a product called Product A. The company uses a standard cost system and has established the following standards for one unit of Product A: Standard Standard Price Standard Quantity or Rate Cost Direct materials 1.5 pounds $3 per pound $4.50 Direct labor 0.6 hours $6 per hour 3.60 Variable overhead 0.6 hours $1.25 per hour .75 $8.85 ÍÍÍÍÍ During March 19×3, the following activity was recorded by the company relative to the production of Product A: I. The company produced 3,000 units during the month. II. A total of 8,000 pounds of material were purchased at a cost of $23,000. III. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,000 pounds of material remained in the warehouse unused. IV. The company employs 10 people to work on the production of Product A. During March, each worked at an average of 160 hours at a rate of $6.50 per hour. In the past, the 10 persons employed in the production of Product A consisted of four senior workers and six assistants. During March, the company experimented with five senior workers and five assistants. V. Variable overhead is assigned to Product A on the basis of direct labor-hours. Variable overhead costs during March totaled $1,800.94. The material price variance for July was: a. $1,000 unfavorable. b. $1,000 favorable. c. $12,000 favorable. d. $12,000 unfavorable.”,”2Material price variance:Actual Quantity Purchased at actual price – Actual quantity at Standard price= $23,0000 – (8,000 x 3)= $1
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Pardoe, Inc., manufactures a product[…]
Read more“Pardoe, Inc., manufactures a product called Product A. The company uses a standard cost system and has established the following standards for one unit of Product A: Standard Standard Price Standard Quantity or Rate Cost Direct materials 1.5 pounds $3 per pound $4.50 Direct labor 0.6 hours $6 per hour 3.60 Variable overhead 0.6 hours $1.25 per hour .75 $8.85 ÍÍÍÍÍ During March 19×3, the following activity was recorded by the company relative to the production of Product A: I. The company produced 3,000 units during the month. II. A total of 8,000 pounds of material were purchased at a cost of $23,000. III. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,000 pounds of material remained in the warehouse unused. IV. The company employs 10 people to work on the production of Product A. During March, each worked at an average of 160 hours at a rate of $6.50 per hour. In the past, the 10 persons employed in the production of Product A consisted of four senior workers and six assistants. During March, the company experimented with five senior workers and five assistants. V. Variable overhead is assigned to Product A on the basis of direct labor-hours. Variable overhead costs during March totaled $1,800.95. The materials quantity variance for July was: a. $10,500 unfavorable. b. $6,000 favorable. c. $4,500 unfavorable. d. $6,750 unfavorable.”,”3Material Quantity Variance:Actual Quantity Used at Standard – Standard Quantity Allowed at Standard Rate 6000 x 3 – (3000 x 1.5) x 3 18,000 – 13,500 = $4,500 UActual Quantity at Standard – Standard Quantity allowed at Standard Rate18,000 – 13,500 = $4,500 UActual Quantity at Standard – Standard Quantity allowed at Standard Rate18,000 – 13,500 = $4
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Pardoe, Inc., manufactures a product[…]
Read more“Pardoe, Inc., manufactures a product called Product A. The company uses a standard cost system and has established the following standards for one unit of Product A: Standard Standard Price Standard Quantity or Rate Cost Direct materials 1.5 pounds $3 per pound $4.50 Direct labor 0.6 hours $6 per hour 3.60 Variable overhead 0.6 hours $1.25 per hour .75 $8.85 ÍÍÍÍÍ During March 19×3, the following activity was recorded by the company relative to the production of Product A: I. The company produced 3,000 units during the month. II. A total of 8,000 pounds of material were purchased at a cost of $23,000. III. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,000 pounds of material remained in the warehouse unused. IV. The company employs 10 people to work on the production of Product A. During March, each worked at an average of 160 hours at a rate of $6.50 per hour. In the past, the 10 persons employed in the production of Product A consisted of four senior workers and six assistants. During March, the company experimented with five senior workers and five assistants. V. Variable overhead is assigned to Product A on the basis of direct labor-hours. Variable overhead costs during March totaled $1,800. 96. The labor rate variance for July was: a. $800 favorable. b. $4,640 unfavorable. c. $3,840 unfavorable. d. $800 unfavorable.”
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Read moreThroughput time 4 hours Delivery cycle time 8 hours Process time 1 hour Queue time 2 hours 97. The wait time for this operation would be: a. 4 hours. b. 2 hours. c. 8 hours. d. cannot be determined from information provided.
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Throughput time 4 hours Delivery[…]
Read moreThroughput time 4 hours Delivery cycle time 8 hours Process time 1 hour Queue time 2 hours 98. The combined inspection and move time for this operation would be: a. 4 hours. b. 1 hour. c. 2 hours. d. cannot be determined from information provided.
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Throughput time 4 hours Delivery[…]
Read more“Pardoe, Inc., manufactures a product called Product A. The company uses a standard cost system and has established the following standards for one unit of Product A: Standard Standard Price Standard Quantity or Rate Cost Direct materials 1.5 pounds $3 per pound $4.50 Direct labor 0.6 hours $6 per hour 3.60 Variable overhead 0.6 hours $1.25 per hour .75 $8.85 ÍÍÍÍÍ During March 19×3, the following activity was recorded by the company relative to the production of Product A: I. The company produced 3,000 units during the month. II. A total of 8,000 pounds of material were purchased at a cost of $23,000. III. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,000 pounds of material remained in the warehouse unused. IV. The company employs 10 people to work on the production of Product A. During March, each worked at an average of 160 hours at a rate of $6.50 per hour. In the past, the 10 persons employed in the production of Product A consisted of four senior workers and six assistants. During March, the company experimented with five senior workers and five assistants. V. Variable overhead is assigned to Product A on the basis of direct labor-hours. Variable overhead costs during March totaled $1,800.99. The labor efficiency variance for March is: a. $5,040 U. b. $1,200 U. c. $1,200 F. d. $5,040 F.”,”3Labor Efficiency Variance =Actual Hours at Standard Rate – Standard hours Allowed at Standard Rate= (10 x 160 x 6) – (300 x .6) x 6= $1
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Pardoe, Inc., manufactures a product[…]
Read more“Pardoe, Inc., manufactures a product called Product A. The company uses a standard cost system and has established the following standards for one unit of Product A: Standard Standard Price Standard Quantity or Rate Cost Direct materials 1.5 pounds $3 per pound $4.50 Direct labor 0.6 hours $6 per hour 3.60 Variable overhead 0.6 hours $1.25 per hour .75 $8.85 ÍÍÍÍÍ During March 19×3, the following activity was recorded by the company relative to the production of Product A: I. The company produced 3,000 units during the month. II. A total of 8,000 pounds of material were purchased at a cost of $23,000. III. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,000 pounds of material remained in the warehouse unused. IV. The company employs 10 people to work on the production of Product A. During March, each worked at an average of 160 hours at a rate of $6.50 per hour. In the past, the 10 persons employed in the production of Product A consisted of four senior workers and six assistants. During March, the company experimented with five senior workers and five assistants. V. Variable overhead is assigned to Product A on the basis of direct labor-hours. Variable overhead costs during March totaled $1,800.100. The variable overhead spending variance for March is: a. $200 U. b. $600 U. c. $600 F. d. $200 F.”
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Pardoe, Inc., manufactures a product[…]
Read more“Pardoe, Inc., manufactures a product called Product A. The company uses a standard cost system and has established the following standards for one unit of Product A: Standard Standard Price Standard Quantity or Rate Cost Direct materials 1.5 pounds $3 per pound $4.50 Direct labor 0.6 hours $6 per hour 3.60 Variable overhead 0.6 hours $1.25 per hour .75 $8.85 ÍÍÍÍÍ During March 19×3, the following activity was recorded by the company relative to the production of Product A: I. The company produced 3,000 units during the month. II. A total of 8,000 pounds of material were purchased at a cost of $23,000. III. There was no beginning inventory of materials on hand to start the month; at the end of the month, 2,000 pounds of material remained in the warehouse unused. IV. The company employs 10 people to work on the production of Product A. During March, each worked at an average of 160 hours at a rate of $6.50 per hour. In the past, the 10 persons employed in the production of Product A consisted of four senior workers and six assistants. During March, the company experimented with five senior workers and five assistants. V. Variable overhead is assigned to Product A on the basis of direct labor-hours. Variable overhead costs during March totaled $1,800.101. The variable overhead efficiency variance for March is: a. $1,050 F. b. $1,050 U. c. $250 F. d. $250 U.”
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Pardoe, Inc., manufactures a product[…]
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