Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A) B) C) Please do requirements A-C (I will like) Thank you! Myers Corporation has the following data related to direct materials costs for November:

A) image text in transcribed
B)
image text in transcribed
C)
image text in transcribed
Please do requirements A-C (I will like) Thank you!
Myers Corporation has the following data related to direct materials costs for November: actual cost for 4,640 pounds of material at $5.00 and standard cost for 4,490 pounds of material at $6,30 per pound. The direct materials price variance is a. $945 favorable b. $6,032 favorable c. $6,032 unfavorable d. $945 unfavorable Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: *Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. ** Insurance expense is $850 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e, January. April, July, and October). *** property tax is paid once a year in Novemben. The cash payments expected for Finch Company in the month of May are (a. $227525 b. 539.175 c. 5188.350 d. $149.175 Woodpecker Co, has $309,000 in accounts receivable on January 1 . Budgeted sales for January are $897,000. Woodpecker Co, expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are a. $615,960 b. $821,280 c. $1,335,600 a. $1,026,600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information For Decision Making Readings In Cost And Managerial Accounting

Authors: Alfred Rappaport

2nd Edition

0134643887, 978-0134643885

More Books

Students also viewed these Accounting questions

Question

Identify the federal laws affecting equal employment opportunity.

Answered: 1 week ago

Question

Identify the elements of the dynamic HRM environment.

Answered: 1 week ago

Question

Discuss attempts at legislating ethics.

Answered: 1 week ago