Questions from Cost Accounting

Q: Information about direct materials cost follows for Jennings Chemicals: /

Information about direct materials cost follows for Jennings Chemicals: Required What was the actual purchase price per gallon?

Q: Nottingham Forest Products reports the following information concerning operations for the most

Nottingham Forest Products reports the following information concerning operations for the most recent month: There are no inventories. Required Prepare a flexible budget for Nottingham Forest Product...

Q: Monitor Devices shows the following overhead information for the current period.

Monitor Devices shows the following overhead information for the current period. Required What are the variable overhead price and efficiency variances and fixed overhead price variance?

Q: The management at Inverness Manufacturing feels confident about the company’s prospect in

The management at Inverness Manufacturing feels confident about the company’s prospect in the current year (year 2). Sales in the first quarter were one-third ahead of last year, and...

Q: The following partial information is contained in the variance analysis received from

The following partial information is contained in the variance analysis received from the Western Plant of Eastlawn Company. All plants at Eastlawn apply overhead on the basis of direct labor-hours. R...

Q: Refer to the data in Problem 16-58. Required

Refer to the data in Problem 16-58. Required Use the information for Nottingham Forest Products in Problem 16-58 to prepare a profit variance analysis like the one in Exhibit 16.5. Problem 16-58:

Q: Production cost variances are not useful in my company. There is

Production cost variances are not useful in my company. There is substantial learning that takes place, so we are more efficient, the more we produce. A standard cost sheet doesn’t reflect that.” Do y...

Q: The results for March for Savery Parts follow: /

The results for March for Savery Parts follow: Required Prepare a flexible budget for Savery Parts for March.

Q: Refer to the data in Problem 16-61. Required

Refer to the data in Problem 16-61. Required Prepare a sales activity variance analysis for Savery Parts for March like the one in Exhibit 16.4. Problem 16-61:

Q: Wisner Fabrication prepares its budgets on the basis of standard costs.

Wisner Fabrication prepares its budgets on the basis of standard costs. Variances are analyzed and reported monthly. There are no materials inventories. The following information relates to the curren...