The Joel Company started operations this month and had the f…

The Joel Company started operations this month and had the following transactions: 1 Owners invested $10,000 to start company 1 Paid $600 for a six month insurance policy 5 Completed work for a customer worth $1,200 on account 12 Customers paid $500 in advance for services to be performed later 27 Paid $3,400 in employee payroll What are the company’s total assets at the end of the month?

The Rafferty Company developed standards for the manufacture…

The Rafferty Company developed standards for the manufacture of its product such that each unit should have 2 pounds of direct materials purchased at $4.60 per pound and should be produced in 1½ hours at a direct labor cost of $18 per hour. Actual production was 4,000 units using 8,200 pounds of direct materials at a total actual cost of $36,200 and required 5,800 direct labor hours at a total actual cost of $106,000.  What is the direct labor price variance for the company?  Use a positive number to indicate a favorable variance or a negative number to indicate an unfavorable variance.

The Franklin Corporation manufactures music equipment and re…

The Franklin Corporation manufactures music equipment and reported the following information related to the production and sale of 20,000 units: Budget Actual Sales $655,000 $687,000 Direct materials 180,000 168,000 Direct labor 160,000 190,000 Overhead 222,000 240,000 Overall, this company performed