The following cost information is for Leslie Company.Actual results: Total cost of purchasing material: $58,000 Number of labor hours worked: 1,000 hours Number of material pounds used in production: 5,850 pounds Total labor cost: $48,000 Number of units produced: 300 units Number of material pounds purchased: 6,250 pounds Leslie Company has established the followingstandards: Price per pound of materials: $10.00 per pound Number of pounds of material to produce one unit: 20 pounds Standard labor rate: $50.00 per hour Number of labor hours to produce one unit: 3 hours Compute Leslies MaterialsQuantityVariance.

$1,500 Favorable $1,500 Unfavorable $2,500 Favorable $2,500 Unfavorable $4,500 Favorable $4,500 Unfavorable

2.

The following cost information is for Leslie Company. Actual results: Total cost of purchasing material: $58,000 Number of labor hours worked: 1,000 hours Number of material pounds used in production: 5,850 pounds Total labor cost: $48,000 Number of units produced: 300 units Number of material pounds purchased: 6,250 pounds Leslie Company has established the followingstandards: Price per pound of materials: $10.00 per pound Number of pounds of material to produce one unit: 20 pounds Standard labor rate: $50.00 per hour Number of labor hours to produce one unit: 3 hours Compute LesliesLabor RateVariance.

$5,000 Favorable $5,000 Unfavorable $2,000 Favorable $2,000 Unfavorable $3,000 Favorable $3,000 Unfavorable

3.	The following information is available for Allen Company: $15.00 Standard variable manufacturing overhead rate perdirect labor hour $220,000 Actual variable manufacturing overhead 14,000 Standard direct labor hours for outputproduced 13,000 Actual direct labor hours worked Given this information, the variable manufacturingoverheadspending varianceis:
	$15,000 favorable $15,000 unfavorable $25,000 unfavorable $25,000 favorable $10,000 favorable $10,000 unfavorable

4.	Ramona Company has the following labor-related data. Standard labor hours for output: 15,000 hours Standard labor rate: $10 per hour Actual labor rate: $8 per hour Actual labor hours: 17,500 hours Given these data, which ONE of the following would be included in the single journal entry needed to record Wages Payable and the labor variances?
	Credit Labor Efficiency Variance for $25,000 Debit Labor Rate Variance for $35,000 Credit Wages Payable for $175,000 Debit Work-In-Process Inventory for $140,000 Credit Labor Rate Variance for $10,000 Credit Labor Rate Variance for $35,000 Credit Labor Efficiency Variance for $10,000

5.

One behavioral factor that must be considered when responsibilities are assigned to managers is

Managers should be held responsible for only actual revenues and actual costs and not for standard revenues or standard costs. Managers with responsibility for direct labor costs should compute efficiency variances based on labor used rather than labor purchased. Managers should not be allowed to influence the plans and standards for those activities over which they have substantial control. Managers should be held responsible for only those cost,revenues, or assets over which they have substantial control. Managers in decentralized organizations should be held responsible for the costs, revenues, and assets in all departments in the organization, whether they directly control those departments or not.

Can you help me with my accounting homework PLEASE??

Estimateddata for Lorien Company for Year 1 are as follows: Total manufacturing overhead: $650,000 Direct labor hours: 130,000 hours Actualdata for Lorien Company for Year 1 are as follows: Total manufacturing overhead: $650,000 Direct labor hours: 110,000 hours The manufacturing overhead rate is determined on the basis of direct labor hours. What is the amount of over- or under-applied overhead for Lorien Company for Year 1?

$110,000 overapplied $110,000 underapplied $100,000 overapplied $100,000 underapplied $0 overhead is neither overapplied nor underapplied

2.

Lana, Inc., a manufacturing business,estimatedthe following for Year 1: Indirect materials: $52,000 Indirect labor: $17,000 Building Rent (1/3 of the building is for non-factoryadministrative offices): $72,000 Depreciation on production equipment: $23,000 Administrative office supplies: $15,000 Machine hours: 25,000 hours Direct labor hours: 35,000 hours Actualdata for Year 1 are as follows: Total manufacturing overhead: $155,000 Machine hours: 28,000 hours Direct labor hours: 32,000 hours The manufacturing overhead rate is determined on thebasis of direct labor hours. Using the data above, what is thepredetermined manufacturing overhead rate?

$4.00 $4.69 $5.60 $4.43 $5.11 $4.84 $4.42

3.

Whichoneof the following sequences is thecorrectsequence for the flow of costs through a production process?

Raw materials inventory, work-in-process inventory, cost of goods sold, finished goods inventory Raw materials inventory, cost of goods sold, work-in-process inventory, finished goods inventory Raw materials inventory, work-in-process inventory, finished goods inventory, cost of goods sold Cost of goods sold, raw materials inventory, work-in-process inventory, finished goods inventory Raw materials inventory, finished goods inventory, cost of goods sold, work-in-process inventory

4.

The company incurred $156,938 in manufacturing overhead and applied $160,742. The company uses the most common and simple method of handling differences between actual and applied overhead. What should be done with the difference of $3,804?

Add the difference to cost of goods manufactured. Subtract the difference from cost of goods manufactured. Add the difference to cost of goods sold. Subtract the difference from cost of goods sold. Add the difference to ending finished goods inventory. Subtract the difference from ending finished goods inventory. Add the difference to ending work-in-process inventory. Subtract the difference from ending work-in-process inventory.

5.

Using the following information, compute thecost of goods manufactured.

• Work-in-process inventory, beginning balance:$71,850
• Work-in-process inventory, ending balance:$75,290
• Direct materials costs: $182,430
• Direct labor costs: $196,570
• Actual manufacturing overhead costs: $138,000
• Applied manufacturing overhead costs: $142,000
• Finished goods inventory, beginning balance:$60,000
• Finished goods inventory, ending balance:$72,000

$524,440

$520,440

$528,440

$517,560

$513,560

$521,560

$505,560

$529,560

The following information is for MaScare Company.

	Physical Units	Percent Completed
Beginning work in process	102 units	65%
Started and completed	793 units	100%
Ending work in process	84 units	45%

For the beginning inventory, the percentage given is the percentage that was already completed as of the beginning of the period. For the ending inventory, the percentage given is the percentage that was completed as of the end of the period. Compute theequivalent units of productionfor the period.

793.0

979.0

897.1

874.9

866.5

905.5

2.

The following information is for Hane Company. The percent completed numbers are for conversion costs; all direct materials are added at the beginning of the production process. For the beginning inventory, the percentage given is the percentage that was already completed as of the beginning of the period. For the ending inventory, the percentage given is the percentage that was completed as of the end of the period.

Beg work in process	8,000	70%	$11,000	$29,000
Units started and completed during the period	25,000
Costs added this period			$74,000	$161,000
Ending work in process	12,000	40%
Units completed and transferred during the period	33,000

Compute thetotal production cost per equivalentfor work done during the period. Assume a FIFO flow of costs. Hint: Total production cost incurred during the period was$235,000.

$2.00

$6.35

$5.00

$7.00

$7.30

$7.12

3.

The following information is for Yosef Company. The percent completed numbers are for conversion costs; all direct materials are added at the beginning of the production process. For the beginning inventory, the percentage given is the percentage that was already completed as of the beginning of the period. For the ending inventory, the percentage given is the percentage that was completed as of the end of the period.

Beg work in process	8,000	70%	$11,000	$29,000
Units started and completed during the period	25,000
Costs added this period			$74,000	$161,000
Ending work in process	12,000	40%
Units completed and transferred during the period	33,000

Compute thetotal production costsof the 33,000 units completed and transferred out during the period. Assume a First-in-First-out flow of costs meaning that the first units completed and transferred out were the 8,000 units in beginning work-in-process inventory. Hint: Remember that the costs associated with the 8,000 units in beginning work-in-process inventory stay with those units through the production process.

$195,000

$275,000

$235,000

$227,000

$175,000

$190,000

4.

Della Company employs two professional appraisers, each having a different specialty. Scott specializes in commercial appraisals, and Burt specializes in residential appraisals. The company expects total overhead costs of $360,000 during the year.

The salaries andbillable hours of the two appraisers are expected to be as follows:

Scott	$100,000	2,500 hours
Burt	$80,000	2,000 hours

Compute the overhead cost rate that should be used for each of the appraisers (based on the expected hours to be billed, with overhead cost rates varying in proportion to each appraisers compensation) to ensure that the total expected operating costs for the year will be recovered from clients.

Scott, $80.00 per hour; Burt, $80.00 per hour

Scott, $32.00 per hour; Burt, $48.00 per hour

Scott, $200.00 per hour; Burt, $160.00 per hour

Scott, $100.00 per hour; Burt, $80.00 per hour

Scott, $50.00 per hour; Burt, $30.00 per hour

Scott, $40.00 per hour; Burt, $40.00 per hour

5.

Whichoneof the following statements is completely correct?

A manufacturing company has a substantial amount of finished goods inventory; a merchandising company has none. A manufacturing company has a substantial amount of work-in-process inventory; a service company has none. A manufacturing company has a substantial amount of finished goods inventory and a substantial amount of work-in-process inventory. A merchandising company has a substantial amount of finished goods inventory and a substantial amount of work-in-process inventory. A service company has a substantial amount of finished goods inventory and a substantial amount of work-in-process inventory.