QUESTION: 36 Elisabeth Company's unadjusted COGS for 20X1 was $84,000. They had a $4,000 unfavorable direct labor efficiency variance, a $1,000 favorable direct labor rate variance, a $3,000 unfavorable direct materials purchase price variance, and a $4,000 unfavorable direct materials usage variance. They did not have any overhead variances. What was Elisabeth Company's adjusted COGS amount for 20X1? Koen Corporation has two divisions: Division A and Division B. Last month, the company reported a contribution margin of $40,200 for Division A. Division B had a contribution margin ratio of 45% and its sales were $204,000. Net operating income for the company was $31,400 and traceable fixed expenses were $52,800. Koen Corporation's common fixed expenses were. a. $47,800 b. $52,800 c. $100,600 d. $132,000 QUESTION: Gaudy Inc. produces and sells a single product. The company has provided its contribution format income statement for May. Sales (3,600 units) Variable costs $306,000 180,000 Contribution margin 126,000 Fixed costs Operating profit 104,700 $21.300 If the company sells 3,400 units, its operating profit should be closest to: A. $13,117. B. $20,117. C. $7,000. D. $14,300.

QUESTION: 36 Elisabeth Company's unadjusted COGS for 20X1 was $84,000. They had a $4,000 unfavorable direct labor efficiency variance, a $1,000 favorable direct labor rate variance, a $3,000 unfavorable direct materials purchase price variance, and a $4,000 unfavorable direct materials usage variance. They did not have any overhead variances. What was Elisabeth Company's adjusted COGS amount for 20X1? Koen Corporation has two divisions: Division A and Division B. Last month, the company reported a contribution margin of $40,200 for Division A. Division B had a contribution margin ratio of 45% and its sales were $204,000. Net operating income for the company was $31,400 and traceable fixed expenses were $52,800. Koen Corporation's common fixed expenses were. a. $47,800 b. $52,800 c. $100,600 d. $132,000 QUESTION: Gaudy Inc. produces and sells a single product. The company has provided its contribution format income statement for May. Sales (3,600 units) Variable costs $306,000 180,000 Contribution margin 126,000 Fixed costs Operating profit 104,700 $21.300 If the company sells 3,400 units, its operating profit should be closest to: A. $13,117. B. $20,117. C. $7,000. D. $14,300.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 13PA: Recompute the variances from the second Acme Inc. exercise using $0.0725 as the standard cost of the...

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Topic: Variance Analysis
Basix Inc. calculates direct manufacturing labor variances and has the following information: 1. Actual hours worked: 200 2. Standard hours allowed for actual output: 250 3. Actual rate per hour: $12 4. Standard rate per hour: $10 Given the information above, which of the following is correct regarding direct manufacturing labor variances? A. The price and efficiency variances are unfavorable. B. The price variance is favorable, while the efficiency variance is unfavorable. C. The price and efficiency variances are favorable. D. The price variance is unfavorable, while the efficiency variance is favorable.
LMN Inc. has the following information available: 1 Compute the material price and quantity, and the labor rate and efficiency variances. 2 Describe the possible causes for this combination of favorable and unfavorable variances. Actual price paid for material 1.00 Standard price for material 1.10 Actual quantity purchased & used in production 100.00 Standard quantity for units produced 110.00 Actual labor rate per hour 15.00 Standard labor rate per hour 14.00 Actual hours 200 Standard hours for units produced 190
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Elisabeth Company's unadjusted COGS for 20X1 was $84,000. They had a $4,000 unfavorable direct labor efficiency variance, a $1,000 favorable direct labor rate variance, a $3,000 unfavorable direct materials purchase price variance, and a $4,000 unfavorable direct materials usage variance. They did not have any overhead variances. What was Elisabeth Company's adjusted COGS amount for 20X1?