I am having trouble with this chapter we moved on to the necktie chapter last week but I'm still having trouble with some of the problems this is one of them You have Just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president hasasked that you revlew the company's costing system and "do what you can to help us get better control of our manufacturingoverhead costs." You find that the company has never used a flexible budget, and you suggest that preparing such a budget would bean excellent first step In overhead planning and control.After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March:ActualCost inMarchCost Formula$16,200 + $0.14 per machine-hour$38,500 + $1.10 per machine-hour$0.70 per machine-hour$94,500 + $2.00 per machine-hour$68,100$20,240$ 49,900$ 11,000$127,400$ 69,800UtilitiesMaintenanceSuppliesIndirect laborDepreciationDuring March, the company wórked 14,000 machine-hours and produced 8,000 units. The company had orlginally planned to work16,000 machlne-hours during March.Required:1. Calculate the activity varlances for March.2 Calculate the spending varlances for March.Complete this question by entering your answers in the tabs below.Required 1Required 2Calculate the activity variances for March. (Indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)FAB CorporationActivity VariancesFor the Month Ended March 31UtilitiesMaintenanceSuppliesIndirect laborDepreciationTotal You have Just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president hasasked that you revlew the company's costing system and "do what you can to help us get better control of our manufacturingoverhead costs." You find that the company has never used a flexlble budget, and you suggest that preparing such a budget would bean excellent first step In overhead planning and control.After much effort and analysls, you determined the following cost formulas and gathered the following actual cost data for March:ActualCost inMarchCost FormulaUtilities$16,200 + $8.14 per machine-hour$38,500 + 1.10 per machine-hour$0.70 per machine-hour$94,500 + $2.00 per machine-hour$68,100$ 20,240$ 49,900$ 11,000$127,400$69,800MaintenanceSuppliesIndirect laborDepreciationDuring March, the company wórked 14,000 machine-hours and produced 8,000 units. The company had orlginally planned to work16,000 machine-hours during March.Required:1. Calculate the activity varlances for March.2 Calculate the spending varlances for March,Complete this question by entering your answers in the tabs below.Required 1Required 2Calculate the spending variances for March, (Indicate the effect of each variance by selecting F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero varience), Input all amounts as positive values.)FAB CorporationSpending VariancesFor the Month Ended March 31UtilitiesMaintenenceSuppliesIndirect laborDepreciationTotal

You have Just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you revlew the company's costing system and "do what you can to help us get better control of our manufacturing overhead costs." You find that the company has never used a flexible budget, and you suggest that preparlng such a budget would be an excellent first step In overhead planning and control. After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Actual Cost in Cost Formula March $16,200 + se.14 per machine-hour $38,500 + $1.10 per machine-hour $0.70 per machine-hour $94,500 + $2.00 per machine-hour $ 20, 240 $ 49,900 $ 11,000 Utilities Maintenance Supplies Indirect labor Depreciation $127, 400 $68,100 $ 69,800 During March, the company wórked 14,000 machine-hours and produced 8,000 units. The company had originally planned to work 16,000 machine-hours during March. Required: 1. Calculate the activity varlances for March. 2 Calculate the spending varlances for March.

You have Just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you revlew the company's costing system and "do what you can to help us get better control of our manufacturing overhead costs." You find that the company has never used a flexible budget, and you suggest that preparlng such a budget would be an excellent first step In overhead planning and control. After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Actual Cost in Cost Formula March $16,200 + se.14 per machine-hour $38,500 + $1.10 per machine-hour $0.70 per machine-hour $94,500 + $2.00 per machine-hour $ 20, 240 $ 49,900 $ 11,000 Utilities Maintenance Supplies Indirect labor Depreciation $127, 400 $68,100 $ 69,800 During March, the company wórked 14,000 machine-hours and produced 8,000 units. The company had originally planned to work 16,000 machine-hours during March. Required: 1. Calculate the activity varlances for March. 2 Calculate the spending varlances for March.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I have 4 problems that I need help finding the correct answer. In each problem an amount for the different categories has been left out so I have to find the unknown number for that account. This is the second time I am submitting these problems for help. The last person not only made numerous typos making it difficult to understand but they also did not reply in a clear manner to each problem. I am labeling the problems 1) 2) 3) and 4). If you could keep that format so it is less confusing I would appreciate it. Also I feel I was given the wrong answer to one of the the problems. So I will see if you come to the same answer.Problem 1Revenue $3000Dividends $2000Expenses $10001/1 Retained Earnings-amount unknown12/31 Retained Earnings $6000Problem 2Revenue $5000Dividends-amount unknownExpenses- $40001/1 Retained Earnings $800012/31 Retained Earnings $3000Problem 3Revenue $6000Dividends $0Expenses-amount unknown1/1 Retained Earnings $1200012/31 Retained Earnings $8000Problem…
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Hi I need help, it says my answer is wrong but I read over and over and over. Please help
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