Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 6.5ounces$2.00per ounce$13.00Direct labor 0.2hours$23.00per hour$4.60Variable overhead 0.2hours$6.00per hour$1.20The company reported the following results concerning this product in June. Originally budgeted output 2,700unitsActual output 2,800unitsRaw materials used in production 19,380ouncesPurchases of raw materials 21,400ouncesActual direct labor-hours 500hoursActual cost of raw materials purchases$40,660 Actual direct labor cost$12,050 Actual variable overhead cost$3,100 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the
materials are purchased.The labor rate variance for June is:
A. $616 U
B. $550 F
C. $616 F
D. $550 U
Answer: D
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Which of the following types of nonexchange transactions recognize revenue when all the eligibility requirements are met?
A. Property tax revenues. B. Voluntary nonexchange transactions. C. Imposed nonexchange transactions. D. Derived tax revenues.
Panton, Inc. acquired 18,000 shares of Glotfelty Corp. several years ago for $30 per share when Glotfelty had a book value of $450,000. Before and after that time, Glotfelty's stock traded at $30 per share. At the present time, Glotfelty reports the following stockholders' equity: Common stock, $10 par value(20,000 shares outstanding)$200,000 Additional paid in capital 100,000 Retained earnings 300,000 $600,000 ??Glotfelty issues 5,000 shares of previously unissued stock to the public for $40 per share. None of this stock is purchased by Panton. ?Prepare Panton's journal entry to recognize the impact of this transaction.
What will be an ideal response?
The entire bundle of products, services, and meanings of one's offering; including extras like service, warranty, or delivery, as well as what the product means to the customer refers to _____.
A. augmented product B. total product C. hybrid product D. pure good
Ryan has the following capital gains and losses for 2017: $6,000 STCL, $5,000 28% gain, $2,000 25% gain, and $6,000 0%/15%/20% gain. Which of the following is correct:
a. The net capital gain is composed of $1,000 25% gain and $6,000 0%/15%/20% gain. b. The net capital gain is composed of $5,000 28% gain and $2,000 0%/15%/20% gain. c. The net capital gain is composed of $3,000 28% gain, $2,000 25% gain, and $2,000 0%/15%/20% gain. d. The net capital gain is composed of $1,000 28% gain and $6,000 0%/15%/20% gain. e. None of the above.