Nicole Clothing manufactures embroidered jackets. It has reported the following standards for direct material and direct labor for the year: Standard DM quantity per unit: 3 square feet Standard cost per sq. foot: $3.80/sq. ft Standard DL quantity per unit: 2 hours per unit Standard DL cost per hour: $9.50/hr Actual production was 14,000 jackets, with 33,600 total square feet used at an actual cost of $3.90/s q. ft. Total direct labor hours incurred were 25,720 at a total cost of $249,484. Compute the direct material quantity variance. A. $31,920 U B. $31,920 F C. $32,760 U D. $32,760 F
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James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u. s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.
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Nicole Clothing manufactures embroidered jackets. It has reported the following standards for direct...
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