Question
23.Bowie Sporting Goods manufactures sleeping bags.The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 4.50
23.Bowie Sporting Goods manufactures sleeping bags.The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:
Direct material of 4.50 yards at $5.50 per yard
Direct labor of 3.00 hours at $16.00 per hour
Overhead applied per sleeping bag at $18.00
In the month of April, the company actually produced 4,900 sleeping bags using 24,300 yards of material at a cost of $5.30 per yard.The labor used was 11,500 hours at an average rate of $17.50 per hour.The actual overhead spending was $96,200.
Determine the materials price variance and round to the nearest whole dollar.Enter a favorable variance as a negative number.Enter an unfavorable variance as a positive number.
24.Bowie Sporting Goods manufactures sleeping bags.The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:
Direct material of 5.50 yards at $5.50 per yard
Direct labor of 3.00 hours at $20.00 per hour
Overhead applied per sleeping bag at $18
In the month of April, the company actually produced 5,100 sleeping bags using 26,800 yards of material at a cost of $5.30 per yard.The labor used was 13,250 hours at an average rate of $20.50 per hour.The actual overhead spending was $96,200.
Determine the labor quantity variance and round to the nearest whole dollar.Enter a favorable variance as a negative number.Enter an unfavorable variance as a positive number.
25.
2018 2017
Cash balance $113,500 $37,500
Net income 142,500 162,000
Depreciation Expense 42,000 35,000
Purchase of Plant Assets 135,000 125,000
Disposal of Plant Assets 40,000 50,000
Gain (Loss) on Disposal of Plant Assets (10,000) 5,000
Accounts Receivable Balance 64,500 58,000
Accounts Payable Balance 42,000 39,000
Interest Expense 8,000 6,000
Income Taxes Paid 35,000 28,000
Dividends Paid 30,000 25,000
Common Stock Issued for Cash 20,000 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started