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128) Pendant Publishing reported the following results for its Textbook Division: Sales $ 2,200,000 Operating income $ 440,000 Total assets $ 1,100,000 Current liabilities $ 1,000,000 Pendant's target rate of return is 15% and the weighted average cost of capital is 10%. Its effective tax rate is 35%. What is the Textbook Division's capital turnover? A) 2.2 B) 2.5 C).

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200) The ________ from the balanced scorecard focuses on determining the company's "climate for action." A) internal business perspective B) learning and growth perspective C) customer perspective D) financial perspective 201) Return on investment and revenue growth would be examples of A) internal business perspective. B) customer perspective. C) financial perspective. D) learning and growth perspective. 202) The.

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232) Costanza Manufacturing gathered the following information for the year ended December 31: Actual sales $285,000 Standard sales $285,000 Standard cost of goods sold $200,000 Direct material price variance $4,200 Unfavorable Direct material quantity variance $900 Unfavorable Direct labor rate variance $3,000 Favorable Direct labor efficiency variance $900 Unfavorable Overhead flexible budget variance $2,250 Unfavorable Production volume variance $3,000 Favorable Selling and Administrative $55,000 Prepare a standard cost income statement for Costanza for the year ended December.

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131) Coltrane Music manufactures musical instrument for sale to students and professionals. The information for one of Coltrane's most popular products, professional saxophones, follows: Product Saxophone Standard direct labor hours per saxophone 1.25 Standard direct labor rate per hour $27.00 Actual number of saxophones manufactured 650 Actual direct labor hours worked 1,000 Actual total direct labor cost $25,400 What is the labor rate.

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108) The Sunny Division of Miami Corporation reported the following results from the past year. Shareholders require a return of 10%. Management calculated a weighted-average cost of capital (WACC) of 5%. Sunny's corporate tax rate is 30%. Sales $ 700,000 Operating income $250,000 Total assets $1,500000 Current liabilities 600,000 What is the division's Residual Income (RI)? A).

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180) KPI in the Balanced Scorecard stands for Knowledge Profitability Index. 181) Operations is one factor of the financial perspective of the Balanced Scorecard. 182) All four perspectives must always be included on each individual company's balanced scorecard. 183) The four perspectives of the balanced scorecard include all of the following except A) financial. B).

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138) The following data relates to Logan Electric and its Light Bulb Division. Light Bulb Division sales $ 7,500,000 Light Bulb Division operating income $ 750,000 Light Bulb Division total assets $ 3,000,000 Light Bulb Division current liabilities $ 550,000 Corporate target rate of return 15% Corporate weighted average cost of capital 11% Corporate effective tax rate 35% What is the Light.

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191) LampLight Industries gathered the following information for the month of July: Overhead flexible budget: Number of units 10,000 13,000 16,000 Standard machine hours 13,500 17,500 21,500 Budgeted variable overhead costs: $30,000 $29,000 $48,000 Budgeted fixed overhead costs: $53,250 $53,500 $63,000 LampLight actually produced 14,000 units in 17,500 machine hours. Total actual overhead cost of $85,500 consisted of $35,000 variable costs and $50,500 fixed costs. The standard variable.

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83) Ayers Company reports the following standards for direct materials for the year: Standard cost per pound$4.75 Standard amount per finished good8.5 pounds During the year, 460,000 finished goods were produced. The direct materials price variance was $14,200 unfavorable. The direct materials flexible budget variance was $980 favorable. Calculate the following items regarding direct.

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144) All variances discovered by management must be investigated. 145) Up-to-date standard costs provide a benchmark by which to evaluate actual costs and operations. 146) Managers will want to use management by exception to determine which variances are significant enough to warrant investigation. 147) Price and quantity variances are a way to motivate.

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71) Puget Company has gathered the following information about its purchase and use of raw materials for December: Standard price per pound of raw material $ 12.00 Actual purchase price per pound of raw material $ 11.50 Standard quantity allowed for actual production (pounds) 1,000 Actual quantity of raw materials purchased (pounds) 1,150 Puget Company uses a standard cost.

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203) Shamrock Manufacturing budgeted fixed overhead costs of $2.75 per unit at an anticipated production level of 1,350 units. In July Shamrock incurred actual fixed overhead costs of $4,400 and actually produced 1,300 units. What is Shamrock's fixed overhead budget variance for July? A) $687.50 favorable B) $687.50 unfavorable C) $825.00 favorable D) $825.00 unfavorable 204).

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41) Jackson Industries has collected the following data for one of its products: Direct materials standard (6 pounds per unit @ $0.55/lb.) $3.30 per finished good Direct materials flexible budget variance-unfavorable $12,000 Actual direct materials used 35,000 pounds Actual finished goods produced 26,000 units What is the actual cost of the direct materials used per pound? A) $2.79 B) $2.45 C) $2.11 D).

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81) On the line in front of each variance, enter the letters of the items needed to compute that variance. You will enter more than one item on each line. A.Actual price B.Actual quantity C.Standard price D.Standard quantity ______Direct materials price variance ______Direct materials quantity variance 82) McNabb Corporation makes shoe polish. The standard direct materials quantity.

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148) Selected financial data for the Photocopies Division of Elizabeth's Business Machines is as follows: Sales $ 6,800,000 Operating income $ 2,040,000 Total assets $ 2,720,000 Current liabilities $ 350,000 Required rate of return 13% Weighted average cost of capital 8% What is the Photocopier Division's return on investment? A) 5.15% B) 30.00% C) 75.00% D) 250.00% 149) Selected financial data for the Photocopies Division of.

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166) The variable overhead rate variance may be caused by variances in the following production inputs except A) indirect materials. B) indirect labor. C) fixed manufacturing overhead. D) None of the above impacts the variable overhead rate variance. 167) What does the variable overhead efficiency variance tell management? A) How efficiently variable manufacturing overhead was used B).

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151) The Jazz Division of Heights Recording Corporation had the following results last year. Sales $10,000,000 Operating income $ 2,200,000 Total assets $4,000,000 Current liabilities $ 2,500,000 Management's target rate of return is 12% and the weighted average cost of capital is 9%. Its effective tax rate is 40%. Required: a.Calculate the return on investment (ROI). b.Calculate the residual income. 152).

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186) Jennings Manufacturing gathered the following flexible budget information: Percent of normal capacity 80% 100% Standard direct labor hours 64,000 70,000 Total budgeted variable overhead cost $118,000 $130,000 Total budgeted fixed overhead cost $100,000 $100,000 How much is the total budgeted overhead cost at 90% of normal capacity? A) $230,000 B) $100,000 C) $217,000 D) $207,000 187) Litchfield Industries gathered the following information for the month ended June.

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121) Belle Auto Detailing reported the following results for the past week: Actual number of cars detailed 250 Actual direct labor hours used 625 Actual total direct labor cost $6,500 Budgeted number of cars to be detailed 300 Standard direct labor cost per hour $10.00 Standard direct labor per car 1.5 What is Belle's direct labor efficiency variance? A) $2,500 favorable B) $2,500 unfavorable C) $2,600.

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190) The results of a customer survey about customer experiences with the company's services would be an example of measuring which perspective? A) Financial B) Customer C) Internal business D) Learning and growth 191) Total hours of continuing professional education taken by employees would be an example of measuring which perspective? A) Financial B) Customer C) Internal business D).

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