Questions from Accounting Principles

Q: Champ Inc. budgets the following sales in units for the coming

Champ Inc. budgets the following sales in units for the coming two months. Each month’s ending inventory of finished units should be 60% of the next month’s sales....

Q: Atlantic Surf manufactures surfboards. The company’s budgeted sales units for the

Atlantic Surf manufactures surfboards. The company’s budgeted sales units for the next three months is shown below. Company policy is to maintain finished goods inventory equal (in u...

Q: Miami Solar budgets production of 5,300 solar panels for August

Miami Solar budgets production of 5,300 solar panels for August. Each unit requires 4 hours of direct labor at a rate of $16 per hour. The company applies variable overhead at the rate of $12 per dire...

Q: Hockey Pro budgets 320 hours of direct labor during May. The

Hockey Pro budgets 320 hours of direct labor during May. The company applies variable overhead at the rate of $18 per direct labor hour. Budgeted fixed overhead equals $46,000 per month. Prepare a fac...

Q: Music World reports the following budgeted sales: August, $150

Music World reports the following budgeted sales: August, $150,000; and September, $170,000. Cash sales are 40% of total sales, and all credit sales are collected in the month following the sale. Prep...

Q: Data below are from recent annual reports for Samsung, Apple,

Data below are from recent annual reports for Samsung, Apple, and Google. Required 1. Compute revenue per employee for Samsung for the current year and the prior year. 2. Using revenue per employee,...

Q: How can managers use the master budget in controlling operations?

How can managers use the master budget in controlling operations?

Q: The fixed budget for 20,000 units of production shows sales

The fixed budget for 20,000 units of production shows sales of $400,000; variable costs of $80,000; and fixed costs of $150,000. If the company actually produces and sells 26,000 units, calculate the...

Q: Refer to the information in QS 23-15. Compute the

Refer to the information in QS 23-15. Compute the volume variance and identify it as favorable or unfavorable.

Q: Alvarez Company for the current period shows a $20,000

Alvarez Company for the current period shows a $20,000 favorable volume variance and a $60,400 unfavorable controllable variance. Standard overhead applied for the period is $225,000. (a) What is the...