Reasons behind the agreement with the First statement assignment help

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Complete this matrix by providing at least 2 reasons why you agree and 2 reasons why you disagree with each of the following author’s statements (shown on page 17 of the article).

Support your arguments with at least 125 words for each agreement/disagreement.

“In the future, I envision more companies moving toward actual cost systems.Standard cost variance analysis will no longer be required because inventory transactions will be recorded at actual cost.”

“This change will free up significant resources in the finance department and will allow cost analysts to function more as business partners within the organization.”

  • BE23.6

Identify the budgets in Column B from which dollar amounts are transferred directly in constructing

the budgets listed in Column A.

  • E23.1

The following information is from the manufacturing budget and the budgeted financial statements

of Fabor Fabrication:

Compute the budgeted amounts for:

a. Purchases of direct materials during the year.

b. Cash payments during the year to suppliers of materials.

  • E23.8

Sales on account for the first two months of the current year are budgeted as follows:

All sales are made on terms of 2/10, n/30 (2% discount if paid in 10 days, full amount by 30 days);

collections on accounts receivable are typically made as follows:

Compute the estimated cash collections on accounts receivable for the month of February.

  • E23,9

On March 1 of the current year, Spicer Corporation compiled information to prepare a cash budget

for March, April, and May. All of the company’s sales are made on account. The following information

has been provided by Spicer’s management:

  • E24.2

The standard costs and variances for direct materials, direct labor, and factory overhead for the

month of May are as follows:

  • E24.4

Gumchara Corporation reported the following information with respect to the materials required to manufacture amalgam florostats during the current month:

a. Determine Gumchara’s materials price variance.

b. Determine Gumchara’s materials quantity variance.

c. Will Gumchara’s overhead volume variance be favorable or unfavorable? Why?

  • E24.6

Marlo Enterprises produces radon mitigation pumps. Information pertaining to the company’s

monthly direct labor usage is provided below:

a. Compute the company’s labor rate variance.

b. Compute the company’s labor efficiency variance.

c. An extremely large order of radon mitigation pumps was filled during the month for exportation

to Saudi Arabia. Filling this order resulted in extended hours for many of the company’s workers.

Which labor variance reflects the extra hours worked by Marlo’s employees? Was their time

well utilized? Explain.

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