Fanning Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs
Sales price$37.00
Materials cost 9.00
Labor cost 4.10
Overhead cost 6.20
Selling, general, and administrative costs 6.60
Planned fixed costs
Manufacturing overhead$127,000
Selling, general, and administrative 45,000
Assume that Adams actually produced and sold 29,000 books. The actual sales price and costs incurred follow:.
Actual price and variable costs
Sales price $ 36.00
Materials cost 9.20
Labor cost 4.00
Overhead cost 6.25
Selling, general, and administrative costs 6.40
Actual fixed costs
Manufacturing overhead $ 112,000
Selling, general, and administrative 51,000
Required
a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i. e., zero variance).)
Flexible Budget Variances Sales revenue Variable manufacturing costs Materials Labor Overhead Selling, general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general, and administrative costs Net income

Why does the united states government provide tax breaks related to the amount of money companies spend on research and development? a. to provide incentives for companies to conduct research and development to allow antitrust authorities b. to challenge joint research efforts c. to protect the right of inventors d. to produce and sell their inventions e. to involve less government scrutiny than a government funded project

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."

Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u.s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.