Advanced Accounting - Standalone book
Advanced Accounting - Standalone book
12th Edition
ISBN: 9780077632588
Author: Hoyle
Publisher: MCG
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Chapter 19, Problem 1P
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On January 1, Trump Financial Services lends a corporate client $180,000 at an 8% interest rate. The amount of interest revenue that should be recorded for the quarter ending March 31 equals:
RDX Corporation's production budget for September is 22,000 units and includes the following component unit costs: direct materials, $7.50; direct labor, $12.00; variable overhead, $6.20. Budgeted fixed overhead is $55,000. Actual production in September was 23,400 units, actual unit component costs incurred during September include direct materials, $8.10; direct labor, $11.80; variable overhead, $6.50. Actual fixed overhead was $57,000, the standard fixed overhead application rate per unit consists of $2.50 per machine hour and each unit is allowed a standard of 1.2 hours of machine time. Calculate the fixed overhead budget variance.
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Advanced Accounting - Standalone book

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