Connect Online Access for Financial Accounting
Connect Online Access for Financial Accounting
18th Edition
ISBN: 9781260706260
Author: Author
Publisher: Mcgraw-hill Higher Education (us)
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Chapter 24, Problem 2CTC

a.

To determine

State whether the president that revision of the $3.70 standard cost figure is necessary or not.

b.

To determine

Compute revised standard cost per unit and calculate the value assigned to the ending inventory of finished units using this revised standard cost.

c.

To determine

Discuss the effect of this revaluation of finished goods inventory have on the company’s operating income.

d.

To determine

Calculate (1) material price variance and quantity variance for material X-1, (2) material price variance and quantity variance for material X-2, (3) Total direct labor variance, and (4) Total manufacturing overhead variance using original standards.

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Chapter 24 Solutions

Connect Online Access for Financial Accounting

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