FINANCIAL ACCOUNTING: TOOLS FOR BUSINES
9th Edition
ISBN: 9781119595649
Author: Kimmel
Publisher: WILEY
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A company discarded a storage cabinet it had originally purchased for $14,500. The cabinet had $9,700 worth of accumulated depreciation. The company should recognize a (an):
Fresno Manufacturing recently purchased 150,000units of raw material for $555,000. Four units of raw material are budgeted for use in each finished good manufactured, with the raw material standard set at$20.00 for each completed product. Fresno manufactured 36,500 finished units during the period and used 144,800 units of raw material. If management is focused on timely variance reporting to enhance cost control, what is the materials purchase price variance?
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