The managers of Sesnie Co., a contract manufacturer of computer monitors, are seeking explanations for the variances
Question:
Transcribed Image Text:
Sesnie Co. Standard Cost Income Statement Year Ended December 31 Sales revenue at standard cost Flexible budget sales revenue vari Sales revenue at a Cost of goods sold at standard cost $1,208,000 2,000 $1,210,000 710,000 ring cost variances: t materials price variance Direc Direct materials quantity variance Direct labor rate variance Direct labor efficiency variance Variable overhead rate variance Variable overhead efficiency variance Fixed overhead budget variance Fixed overhead volume variance Total manufacturing variances $10,000 F 34,000 U 10,000 U 24,000 F 16,000 U 3,000 F 11,000 U 9,000 F Cost of goods sold at actual cost Gross proft Marketing and administrative expenses. Operating 25,000 $ 735,000 S 475,000 416,000 S 59,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
Materials The un favorable price variance occurred because Sesnie paid more than the standard price for raw materials The un favorable efficiency vari...View the full answer
Answered By
Khurram shahzad
I am an experienced tutor and have more than 7 years’ experience in the field of tutoring. My areas of expertise are Technology, statistics tasks I also tutor in Social Sciences, Humanities, Marketing, Project Management, Geology, Earth Sciences, Life Sciences, Computer Sciences, Physics, Psychology, Law Engineering, Media Studies, IR and many others.
I have been writing blogs, Tech news article, and listicles for American and UK based websites.
4.90+
5+ Reviews
17+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Easton Electronics in Irvine, California, is a contract manufacturer that assembles complex solid- state circuit boards for advanced technology companies in the aerospace and health sciences...
-
The managers of Viewx, a contract manufacturer of DVD drives, are seeking explanations for the variances in the following report. Explain the meaning of each of Viewxs materials, labour, and overhead...
-
The managers of Monachino, a contract manufacturer of DVD drives, are seeking explanations for the variances in the following report. Explain the meaning of each of Monachinos materials, labour, and...
-
A construction company is considering taking on a new project. The total project cost is $5 million, and there is a 70% chance that the project will be completed on time and within budget, resulting...
-
The United States and Japan, the two largest economies in the world, are also the largest importers and exporters of goods and services. However, imports and exports put together comprise only 20 to...
-
Byte Computer Corporation acquired 75 percent of Nofail Software Companys stock on January 2, 20X3, by issuing bonds with a par value of $50,000 and a fair value of $67,500 in exchange for the...
-
What is the Users Level 0 Enterprise Model?
-
EL Computer produces its multimedia notebook computer on a production line that has an annual capacity of 16,000 units. EL Computer estimates the annual demand for this model at 6000 units. The cost...
-
In January of the current year, your company purchased a sport utility vehicle (SUV) weighing 6,100 pounds in the amount of $130,000 for business-use only. At December 31st, you (the business owner)...
-
A four-cylinder, four-stroke diesel engine is used to generate an output of 200A at 210V. The generator and mechanical efficiencies are 90 % and 87%, respectively. The quantity of fuel supplied to...
-
Speedy Oil performs oil changes. The standard wage rate for oil change technicians is $15 per hour. By analyzing its past records of time spent on oil changes, Speedy Oil has developed a standard of...
-
Western Outfitters' revenue and expense information for April follows: Sales revenue at standard cost .............................................................................. $555,000 Flexible...
-
Use a double integral to find the area of the shaded region. RIN- 2 r=2 sin 20 8 2 + -0
-
Suppose you are responsible for the design of a new order entry and sales analysis system for a national chain of auto part stores. Each store has a PC that supports office func tions. The company...
-
Figure P9.46 shows the force \(F(x)\) plotted as a function of position \(x\). (a) What average constant force applied between \(x=1 \mathrm{~m}\) and \(x=3 \mathrm{~m}\) will do the same amount of...
-
Explain with the neat sketch, working of the two-stroke petrol engine.
-
Sami, 34, and Ronald, 31, want to buy their first home. Their current combined net income is $65,000 and they have two auto loans totaling $32,000. They have saved approximately $12,000 for the...
-
The financial year of S. Smith ended on 31 December 2013. Show the ledger accounts for the following items including the balance transferred to the necessary part of the financial statements, also...
-
See the following: K. P. Coyne, S. T. Coyne, and E. J. Coyne Jr., When Youve Got to Cut Costs Now: A Practical Guide to Reducing Overhead by 10%, 20%, or (wince) 30%, Harvard Business Review, May...
-
You are standing at x = 9.0 km and your assistant is standing at x = 3.0 km. Lightning bolt 1 strikes at x = 0 km and lightning bolt 2 strikes at x = 12.0 km. You see the flash from bolt 2 at t = 10...
-
The Cleveland Foodbank is a nonprofit organization that receives donations of food and distributes this food to appropriate charitable organizations. Many times, large quantities of food need to be...
-
Refer to the Playmore Products Data Set. Calculate the sandbox toy project's payback period. If the sandbox toy project had a residual value of $175,000, would the payback period change? Explain and...
-
Refer to the Robinson Hardware information in E12-19A. Compute the ARR for the investment. Robinson Hardware is adding a new product line that will require an investment of $1,550,000. Managers...
-
Suresh Company reports the following segment (department) income results for the year. Sales: Expenses Avoidable Unavoidable Total expenses Income (loss) Department M $ 66,000 Department N $ 38,000...
-
EZ Tees Corporation produces T-shirts. The company uses a standard costing system and has set the following standards for direct materials and direct labor (for one shirt): Fabric (1.5 yds. @ $2.80)...
-
Question : List the competitive advantages of Nordstrom: the things that make it different from competitors in positive ways. Nordstrom: A Shining Example of Service Excellence 'Use your best...
Study smarter with the SolutionInn App