Olsson Video Center accumulates the following cost and market data at December 31

ACC 290 Week 5 Assignment

BE6-7 Olsson Video Center accumulates the following cost and market data at December 31.

Inventory Cost Market
Categories Data Data
Cameras $12,500 $13,400
Camcorders 9,000 9,500
DVDs 13,000 12,200

Compute the lower-of-cost-or-market valuation for Olsson inventory.

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Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level

BE5-4 Bruno Company accumulates the following data concerning a mixed cost, using miles as the activity level

Miles Driven Total Cost Miles Driven Total Cost
January 8,000 $14,150 March 8,500 $15,000
February 7,500 13,500 April 8,200 14,490

Compute the variable and the fixed cost element using the high-low method

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Dinkel Manufacturing Corporation accumulates the following data relative to jobs started and finished during the month of June 2008

Dinkel Manufacturing Corporation accumulates the following data relative to jobs started and finished during the month of June 2008. Costs and Production Data Actual Standard Raw materials unit cost $2.25 $2.00 Raw materials units used 10,600 10,000 Direct labor payroll $122,400 $120,000 Direct labor hours worked 14,400 15,000 Manufacturing overhead-incurred $184,500 Manufacturing overhead applied $189,000 Machine hours expected to be used at normal capacity 42,500 Budgeted fixed overhead for June $51,000 Variable overhead rate per hour $3.00 Fixed overhead rate per hour $1.20 Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $400,000. Selling and administrative expenses were $40,000. Assume that the amount of raw materials purchased equaled the amount used. Hint: Compute variances, and prepare income statement. (a) Compute all of the variances for (1) direct materials and (2) direct labor. (3) Compute the total overhead variance. (b) Prepare an income statement for management. Ignore income taxes.

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For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools

For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $321,700 budget; $333,100 actual.

Prepare a static budget report for the quarter.

Click here for the solution: For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools