Solomon publications established the following standard price and costs for a hardcover picture book that the company produces. standard price and variable costs sales price $ 36.50 materials cost 8.60 labor cost 4.40 overhead cost 6.20 selling, general, and administrative costs 6.70 planned fixed costs manufacturing overhead $ 127,000 selling, general, and administrative 48,000 assume that solomon actually produced and sold 24,000 books. the actual sales price and costs incurred follow: actual price and variable costs sales price $ 35.50 materials cost 8.80 labor cost 4.30 overhead cost 6.25 selling, general, and administrative costs 6.50 actual fixed costs manufacturing overhead $ 112,000 selling, general, and administrative 54,000 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

Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .

Exercise 4-6 the following balances were taken from the books of alonzo corp. on december 31, 2017. interest revenue $86,000 accumulated depreciation—equipment $40,000 cash 51,000 accumulated depreciation—buildings 28,000 sales revenue 1,380,000 notes receivable 155,000 accounts receivable 150,000 selling expenses 194,000 prepaid insurance 20,000 accounts payable 170,000 sales returns and allowances 150,000 bonds payable 100,000 allowance for doubtful accounts 7,000 administrative and general expenses 97,000 sales discounts 45,000 accrued liabilities 32,000 land 100,000 interest expense 60,000 equipment 200,000 notes payable 100,000 buildings 140,000 loss from earthquake damage 150,000 cost of goods sold 621,000 common stock 500,000 retained earnings 21,000 assume the total effective tax rate on all items is 34%. prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (round earnings per share to 2 decimal places, e.g. 1.48.)

Last week paul, ceo of quality furniture in south carolina, traveled to europe to visit customers. while overseas, paul checked his e-mail daily and showed his company's website to customers, explaining how the website will them place orders and receive merchandise more quickly. after visiting the last customer friday morning, paul was able to return to the corporate office in south carolina to meet with his board of directors that night. is the "shrinking" of time and space with air travel and electronic media.