Income Statement with Variances
Dvorak Company produces a product that requires five standard pounds per unit. The standard price is $2.50 per pound. Assume the company produced 1,000 units of product. 1,000 units required 4,500 pounds, which were purchased at $3.00 per pound. The product requires three standard hours per unit at a standard hourly rate of $17 per hour. The 1,000 units required 2,800 hours at an hourly rate of $16.50 per hour. The standard variable overhead cost per unit is $1.40 per hour. The actual variable factory overhead was $4,000. The standard fixed overhead cost per unit is $0.60 per hour at 3,500 hours, which is 100% of normal capacity.
Prepare a 2014 income statement through gross profit for Dvorak Company. Assume Dvorak sold 1,000 units at $90 per unit. Enter all amounts as positive numbers. If an amount does not require an entry or is zero, enter "0".
Please can you show me your work so I can learn how to do this myself so I can take the test.
Which of the following transactions and events results in an increase in liabilities and a decrease in net income? a. The accrual of wages expense at year-end b. Coll...Nov 20 2019
A horizontal rigid bar of weight W 7200 lb is supported by three slender circular rods that are equally spaced (see figure on the next page). The two outer rods are ma...Jun 29 2020
The following selected transactions apply to Topeca Supply for November and December 2016. November was the first month of operations. Sales tax is collected at the time ...Apr 11 2020
The Sherman Antitrust Act was enforced in 1906 by a ruling of the Supreme Court regarding the monopolization of the oil industry byA) Getty Oil of Oklahoma.B) Texaco Oil...Dec 10 2019
Move each factor to the appropriate category based on whether it would increase Costa Rica's GDP per capita, decrease Costa Rica's GDP per capita, or have no effect. Incr...Apr 16 2021
1. Prepare the journal entry to record Channel One Company’s issuance of 100,000 shares of $0.50 par value common stock assuming the shares sell for:a. $0.50 cash per s...Jul 20 2020
An aircraft carrier is traveling forward with a velocity of 50 . At the instant shown, the planeat hasjust taken off and has attained a forward horizontal air speed of 2...May 13 2020
How does Altitude Online’s Web site contribute to the company’s commerce? 2. How will the new ERP system impact Altitude Online’s Web presenceMar 14 2020
What form of disciplinary action is normally afforded for fighting on the job?A) oral warningB) written warningC) suspensionD) termination42) What is the disciplinary act...Dec 11 2019
The attitude that regards home-country practices as superior to foreign-country practices is known as a(an) [A]Egocentric [B]Ethnocentric [C]Polycentric[D]GeocentricMar 09 2018