George Company has a standard costing system. The following data are available for July: Actual manufacturing overhead cost incurred: $22,000 Actual machine hours worked: 1,600 Overhead volume varia

George Company has a standard costing system. The following data are available for July: Actual manufacturing overhead cost incurred: $22,000 Actual machine hours worked: 1,600 Overhead volume variance: $3,600 Unfavorable Total overhead variance: $1,000 Unfavorable Overhead is assigned to production on the basis of machine hours   Instructions Determine the amount of (1) the controllable overhead variance and (2) the overhead applied.        

The income statement for 2014 and comparative balance sheets of Daniel Divers for 2013 and 2014 appear below. Dividends totaling $51,200 were paid during the year. Equipment costing $21,500 with a book value of $19,200 was sold for $8,900 cash during the year.     December 31 Assets 2014 2013 Cash $  56,800 $  58,300 Accounts receivable 14,500 12,200 Merchandise inventories 22,600 30,000 Equipment 112,000 98,700 Accumulated depreciation (35,600) (28,400)  Total assets $170,300 $170,800         Liabilities and Stockholders’ Equity     Accounts payable $  31,500 $  34,700 Income taxes payable 8,900 7,400 Long-term notes payable 46,700 52,300 Common stock, $0.50 par 37,600 32,100 Retained earnings   45,600   44,300 Total liabilities and stockholders’ equity $170,300 $170,800         Sales   $389,000   Cost of goods sold 178,000   Depreciation expense 24,000   Interest expense Other expenses 2,700 109,700   Gain on sale of equipment 6,600   Income taxes expense    28,700   Net income $  52,500   prepare cash flow under indirect method

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