Financial & Managerial Accounting
Financial & Managerial Accounting
18th Edition
ISBN: 9781260006520
Author: williams
Publisher: MCG
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Chapter 6, Problem 14DQ
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Explain why the company that use a perpetual inventory system still take a physical count of their merchandise inventory at least once a year.

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17 The following data of Pepper Pots Corp. relate to the production of 2,000 clay pots during July.     Direct Materials (all materials purchased were used):    Standard cost: $6.00 per kilogram of clay  Total actual cost: $11,200   Standard cost allowed for units produced was $12,000   Materials efficiency variance was $240 unfavourable       Direct Manufacturing Labour:       Standard cost is 2 pots per hour at $24.00 per hour      Actual cost per hour was $24.50      Actual labour was 972 hours   What is the standard direct material amount per pot? Select one: a. 4.00 kilograms b. 2.12 kilograms c. 3.00 kilograms d. 1.00 kilogram e. 1.88 kilograms
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Financial & Managerial Accounting

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Chapter 6 Merchandise Inventory; Author: Vicki Stewart;https://www.youtube.com/watch?v=DnrcQLD2yKU;License: Standard YouTube License, CC-BY
Accounting for Merchandising Operations Recording Purchases of Merchandise; Author: Socrat Ghadban;https://www.youtube.com/watch?v=iQp5UoYpG20;License: Standard Youtube License