Sweet Dreams manufactures candy. Its records revealed the following data: Number of units produced 4,000 Standard direct labor hours per unit 2 Standard variable overhead rate $2.50 per hour Standard fixed overhead rate $5.00 per hour Budgeted fixed overhead costs $40,800 Actual variable overhead costs $16,800 Actual fixed overhead costs $40,400 Actual labor hours 8,000 direct labor hours Total
actual overhead $57,200 The total variable overhead variance is
a. $3,200 (U).
b. $3,200 (F).
c. $3,600 (F).
d. $0.
B
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Exhibit 20-5 The Baltimore, Inc entered into a five-year lease with the Waugh Chapel Company on January 1, 2016. Baltimore, the lessor, will require that five equal annual payments of $25,000 be made at the beginning of each year. The first payment will be made on January 1, 2016. The lease contains a bargain purchase option price of $12,000, which the lessee may exercise on December 31, 2020
The lessee pays all executory costs. The cost of the leased property and its normal selling price are $95,000 and $118,236, respectively. Collectibility of the future lease payments is reasonably assured, and the lessor does not expect to incur any future costs related to the lease. Present value factors for a 7% Present value of $1 for n = 1 0.934579 Present value of $1 for n = 5 0.712986 Present value of an ordinary annuity for n = 5 4.100197 Present value of an annuity due for n = 5 4.387211 ? Refer to Exhibit 20-5. If Baltimore requires a 7% annual return, what is the correct amount of interest revenue to be recognized by Baltimore for 2016 (round the answer to the nearest dollar)? A) $7,774 B) $7,175 C) $6,527 D) $5,928
Which step is least likely to occur when choosing a commercial software package?
a. a detailed review of the source code b. contact with user groups c. preparation of a request for proposal d. comparison of the results of a benchmark problem
How completely and accurately services are delivered is called ____.
A. effectiveness B. efficiency C. quality D. economy
The days' sales uncollected ratio measures the liquidity of accounts receivable.
Answer the following statement true (T) or false (F)