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 overhead variance is
a. $800 (F).
b. $800 (U).
c. $2,800 (F).
d. $300 (F).
C
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Calculate the times-interest-earned ratio. (Round your answer to two decimal places.)
Milton, Inc. provides the following income statement for 2019:
A) 73.00 times
B) 46.00 times
C) 40.30 times
D) 47.00 times
You own a neighborhood grocery store and would like to have non-food items delivered, priced, displayed and inventoried by a wholesaler. You do not want to purchase title to the goods. Which type of wholesaler best fits your needs?
A) cash-and-carry wholesaler B) rack jobber C) drop shipper D) mail-order wholesaler E) agents and brokers
Both the budgeted quantity of material to be purchased and the budgeted quantity of material to be consumed can be found in the
a. material purchases budget. b. production budget. c. pro forma income statement. d. cash budget.
The cost of goods sold as a percentage of sales is 74% for Fairyway Inc and 82% for Telasis. This means that:
a. Telasis will have greater inventory on total assets. b. Telasis will have greater profits on sale. c. Fairyway will have greater profits on sale. d. Fairyway will have greater inventory on total assets.