College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 22, Problem 5CE

(a)

To determine

Journalize the redemption of $30,000 bonds of the issue of $99, if the unamortized discount is $360.

(b)

To determine

Journalize the redemption of $40,000 bonds of the issue of $98, if the unamortized discount is $480.

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Luke Production applies overhead using a normal costing approach based on direct labor-hours. The budgeted factory overhead was $420,000, and the budgeted direct labor-hours were 28,000. The actual factory overhead was $438,900, and the actual direct labor-hours were 29,200. How much overhead would be applied to production?
The Frontier Manufacturing had 7,200 actual direct labor hours at an actual rate of $18.75 per hour. Original production had been budgeted for 950 units, but only 900 units were actually produced. Labor standards were 9.2 hours per completed unit at a standard rate of $17.50 per hour. Compute the direct labor cost variance.

Chapter 22 Solutions

College Accounting, Chapters 1-27

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