Questions from Managerial Accounting

Q: Refer to information in QS 8-14. Assume that actual

Refer to information in QS 8-14. Assume that actual sales are $480,000, actual variable costs for the year are $112,000, and actual fixed costs for the year are $145,000. Prepare a flexible budget per...

Q: Hardy Company’s cost of goods sold is consistently 60% of sales

Hardy Company’s cost of goods sold is consistently 60% of sales. The company plans to carry ending merchandise inventory for each month equal to 20% of the next month’s budgeted cost of good sold. All...

Q: Fogel Co. expects to produce 116,000 units for the

Fogel Co. expects to produce 116,000 units for the year. The company’s flexible budget for 116,000 units of production shows variable overhead costs of $162,400 and fixed overhead costs of $124,000. F...

Q: AirPro Corp. reports the following for November. Compute the controllable

AirPro Corp. reports the following for November. Compute the controllable overhead variance for November. Actual total factory overhead incurred . . . . . . . . . . . . . . . . . . . $28,175 Standard...

Q: Refer to information in QS 8-19. Compute the overhead

Refer to information in QS 8-19. Compute the overhead volume variance for November. In QS 8-19 AirPro Corp. reports the following for November. Compute the controllable overhead variance for November...

Q: In a recent year, BMWsold 216,944 of its 1

In a recent year, BMWsold 216,944 of its 1 Series cars. Assume the company expected to sell 225,944 of these cars during the year. Also assume the budgeted sales price for each car was $30,000, and th...

Q: The following information describes a company’s usage of direct labor in a

The following information describes a company’s usage of direct labor in a recent period. Compute the direct labor rate and efficiency variances for the period. Actual direct labor hours used . . . ....

Q: The following information describes a company’s usage of direct labor in a

The following information describes a company’s usage of direct labor in a recent period. Compute the direct labor rate and efficiency variances for the period. Actual direct labor hours used . . . ....

Q: Managers use management by exception for control purposes. (1)

Managers use management by exception for control purposes. (1) Describe the concept of management by exception. (2) Explain how standard costs help managers apply this concept to monitor and control c...

Q: For the current period, Kayenta Company’s manufacturing operations yield a $

For the current period, Kayenta Company’s manufacturing operations yield a $4,000 unfavorable price variance on its direct materials usage. The actual price per pound of material is $78; the standard...