Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

1)  Mmanagement of Hamano Corporation would like you to analyze their repair costs, that are given below:

 

Machine-Hours

Repair-Hours

April

4,459

$98,523

May

4,426

$98,296

June

4,493

$98,781

July

4,417

$98,207

August

4,432

$98,349

September

4,446

$98,420

October

4,489

$98,749

November

4,475

$98,654

Management believes that repair cost is a mixed cost which depends on number of machine-hours. Using least-squares regression method, estimates of variable and fixed components of repair cost would be closest to:

a) $22.11 per machine-hour plus $98,497 per month

b) $7.37 per machine-hour plus $65,670 per month

c) $8.19 per machine-hour plus $62,015 per month

d) $7.55 per machine-hour plus $64,859 per month

2) During recent lengthy strike at Morell Manufacturing Company, management replaced striking assembly line workers with office workers. Assembly line workers were being paid $18 per hour whereas office workers are only paid $10 per hour. Determine the most likely effect on labor variances in first month of this strike?

 

Labor Rate Variance

Labor Efficiency Variance

A)

Unfavorable

No effect

B)

No effect

Unfavorable

C)

Unfavorable

Favorable

D)

Favorable

Unfavorable

a) Item A

b) Item B

c) Item C

d) Item D

3) Journal entry below 

Work in Process

25,000

Direct Labor Efficiency Variance

1,200

Direct Labor Rate Variance

2,000

Accrued Wages Payable

24,200

 Indicates that:

A. Total labour variance was $800, unfavourable.

B. Employees received unexpected rate increase during period.

C. More labour time was required to complete output of period than was allowed at standard.

D. Responses a and b are both correct.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M916286

Have any Question? 


Related Questions in Accounting Basics

Transactions and fasb standards1 the new city college

Transactions and FASB Standards 1. The New City College reported deferred revenues of $612,000 as of July 1, 2014, the first day of its fiscal year. Record the following transactions related to student tuition and fees a ...

Accounting assignmentgrant film products wishes to expand

Accounting Assignment Grant Film Products wishes to expand and has borrowed $100,000. As a condition for making this loan, the bank requires that the business maintain a current ratio of at least 1.50. Business has been ...

Cost accounting systemsconsider the places of employment of

Cost Accounting Systems Consider the places of employment of the team members or businesses with which the team is familiar and the industries in which they operate. Create a 12-slide presentation, including detailed spe ...

Discussion questions 1 and 2dq 1 accounting equationas you

Discussion Questions 1 and 2 DQ #1: Accounting Equation As you have learned in this week's readings, the Accounting Equation is Assets = Liabilities + Owners' Equity. Is the accounting equation true in all instances? Pro ...

1 ahn nguyen a vietnamese joint stock company has net

1. Ahn Nguyen, a Vietnamese Joint Stock Company has net income of 52,000 Vietnamese Dong, () and the following items: Depreciation Expense   16,000 Accounts Receivable Increase                    12,000 Inventory Decreas ...

In january 2013 mitzu co pays 2650000 for a tract of land

In January 2013, Mitzu Co. pays $2,650,000 for a tract of land with two buildings on it. It plans to demolish Building 1 and build a new store in its place. Building 2 will be a company office; it is appraised at $823,50 ...

Company annual report study -choose any company and make a

COMPANY ANNUAL REPORT STUDY - Choose any company and make a report: Introduction (about 100 words) Conceptual framework (300 words) Ethics (not more than 150 words) Corporate governance (not more than 150 words) Legitima ...

Modern furniture company had finally arrived at the point

Modern Furniture Company had finally arrived at the point where it had a sufficient excess cash flow of $4.8 million to consider paying a dividend. It had 3 million shares of stock outstanding and was considering paying ...

Comprehensive problem 1morgan companys balance sheet at

Comprehensive Problem 1 Morgan Company's balance sheet at December 31, 2016, is presented below. Morgan Company Balance Sheet December 31, 2016 Cash $30,000 Accounts Payable $12,250 Inventory 3050 Interest Payable 300 Pr ...

Assignmentguidelines for individual case assignment cutting

Assignment Guidelines for Individual Case Assignment: Cutting Edge Instructions This is an individual assignment and therefore must be completed by the individual student without outside assistance. In order to complete ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro