Questions from Managerial Accounting

Q: Cherokee Manufacturing Company established the following standard price and cost data.

Cherokee Manufacturing Company established the following standard price and cost data. Cherokee planned to produce and sell 2,000 units. Actual production and sales amounted to 2,200 units. Required 1...

Q: Misty McDougall is the manager of the Fowler Bagel Shop. The

Misty McDougall is the manager of the Fowler Bagel Shop. The corporate office had budgeted her store to sell 3,000 ham sandwiches during the week beginning July 17. Each sandwich was expected to conta...

Q: Monique’s Florals produced a special Mother’s Day arrangement that included eight roses

Monique’s Florals produced a special Mother’s Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow....

Q: Fulton Fruit Basket Company makes baskets of assorted fruit. The standard

Fulton Fruit Basket Company makes baskets of assorted fruit. The standard and actual costs of oranges used in each basket of fruit follow. Fulton actually produced 25,000 baskets. Required 1. Determin...

Q: Advances in biological technology have enabled two research companies, Bio Labs

Advances in biological technology have enabled two research companies, Bio Labs, Inc., and Scientific Associates, to develop an insect-resistant corn seed. Neither company is financially strong enough...

Q: Lucas Manufacturing Company incurred a favorable labor price variance and an unfavorable

Lucas Manufacturing Company incurred a favorable labor price variance and an unfavorable labor usage variance. Required 1. Describe a scenario in which the personnel manager is responsible for the unf...

Q: Russell and Sons, a CPA firm, established the following standard

Russell and Sons, a CPA firm, established the following standard labor cost data for completing what the firm referred to as a Class 2 tax return. Russell expected each Class 2 return to require 4.0 h...

Q: Pella Car Wash Inc. expected to wash 2,000 cars

Pella Car Wash Inc. expected to wash 2,000 cars during the month of August. Washing each car was expected to require 0.2 hour of labor. The company actually used 420 hours of labor to wash 1,880 cars....

Q: Cheney Company established a predetermined variable overhead cost rate at $21

Cheney Company established a predetermined variable overhead cost rate at $21.00 per direct labor hour. The actual variable overhead cost rate was $19.20 per hour. The planned level of labor activity...

Q: Reardan Company established a predetermined fixed overhead cost rate of $29

Reardan Company established a predetermined fixed overhead cost rate of $29 per unit of product. The company planned to make 7,000 units of product but actually produced only 6,500 units. Actual fixed...