Chapter 16, Problem 16.32E

. For the month of January 2024, compute the following variances, indicating whether each isfavorable (F) or unfavorable (U):a. Direct materials price variance, based on purchasesb. Direct materials efficiency variancec. Direct manufacturing labor price varianced. Direct manufacturing labor efficiency variancee. Total manufacturing overhead spending variancef. Variable manufacturing overhead efficiency varianceg. Production-volume variance

Partner Retirement: Various Cases The capital balances for the partnership of Diaz, Isidro, and Nelson are as follows: Capital-Diaz Capital-Isidro Capital-Nelson $1,500,000 900,000 600,000 The partners share income in a 2:4:4 ratio. Nelson decides to retire. Diaz and Isidro continue the partnership, sharing income in a 2:4 (1:2) ratio. Required Prepare the journal entry or entries to record the retirement of Nelson in each of the following scenarios: a. Diaz and Isidro use their personal assets to buy Nelson's interest for $800,000. Description Debit Credit Capital-Isidro b. The partners agree to pay Nelson $750,000 of partnership cash. The bonus method is used. Capital-Diaz Description To record retirement bonus to Nelson. Debit Credit To record retirement payment to Nelson. c. Same as b., but the partial goodwill approach is used. Description Debit Credit To record partial goodwill. To record retirement payment to Nelson. d. Same as b., but the total goodwill approach is used.…

Osio company prepared accounting

24 A manufacturing company uses a perpetual inventory system. Which account maintains the total costs that will be transferred to cost of goods sold upon sale? Finished goods inventory Merchandise inventory Purchases Accounts payable

The following financial information is for Annapolis Corporation for the fiscal years ending 2018 and 2019: please answer these general accounting question not use ai

Financial Accounting

Please provide correct answer accounting question not use ai..

16 A company is using the net method for a sale of $1,000 with payment terms of 2/10, net 30. How should the company record this in accounts receivable? Debited for $1,000 Credited for $980 Credited for $1,000 Debited for $980

Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria, where the local currency unit is the naira (NGN). On December 31, 2023, the subsidiary had the following balance sheet (amounts are in thousands [000s]): Cash NGN 16,000 Notes payable NGN 20,000 Inventory 10,000 Common stock 20,000 Land 4,000 Retained earnings 10,000 Building 40,000     Accumulated depreciation (20,000)       NGN 50,000   NGN 50,000 The subsidiary issued the common stock in 2015, and acquired the land and building in 2016. It acquired the inventory on August 1, 2023. During 2024, the following transactions took place: 2024   February 1 Paid 8,000,000 NGN on the note payable. May 1 Sold entire inventory for 16,000,000 NGN on account. June 1 Sold land for 6,000,000 NGN cash. August 1 Collected all accounts receivable. September 1 Signed long-term note to receive 8,000,000 NGN cash. October 1 Bought inventory for 20,000,000 NGN cash. November 1 Bought land for 3,000,000…