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Home Q & A Board Other Fields Homework Help Business Accounting
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Caterlebe Productions uses a standard cost system. On December 31, the account balances include the following:
Sales Revenues: $750,000
Cost of Goods Sold (standard costing): $400,500
Selling & Admin expenses: $150,000

Variances:
Sales revenue variance   $6,000   F
Direct materials cost variance   400   U
Direct materials efficiency variance   375   F
Direct labor cost variance   675   U
Direct labor efficiency variance   150   F
Variable overhead cost variance   250   U
Variable overhead efficiency variance   800   F
Fixed overhead cost variance   420   U
Fixed overhead volume variance   100   F

Prepare a standard cost income statement.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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7 years ago
Thanks!
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