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Shaw was relieved to see that the anticipated savings in material waste and rework seemed to have materialized. But, he was concerned that the union would press hard for higher wages given that actual unit costs came in below standard unit costs and operating income continued to climb. If you […]

Adria Lopez created Success Systems on October 1, 2013. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each […]

Polk Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs. Variable Cost per Unit Direct materials —$8.10 Direct labor—–$2.65 Variable manufacturing overhead—-$6.21 Variable selling and administrative expenses—– $4.21 Fixed Costs per Year Fixed manufacturing overhead– $254,184 Fixed […]

Lesson 3 Standard Cost Accounting EXAMINATION NUMBER: 06164900 Questions 1-20: Select the one best answer to each question. 1. A company uses a two-variance analysis for overhead variances—controllable variances and volume variances. The volume variance is based on the A. total overhead application rate. B. total expenses at various activity […]