Exercise 10-1 direct materials variances [lo10-1] bandar industries berhad of malaysia manufactures sporting equipment. one of the company’s products, a football helmet for the north american market, requires a special plastic. during the quarter ending june 30, the company manufactured 3,700 helmets, using 2,775 kilograms of plastic. the plastic cost the company $21,090. according to the standard cost card, each helmet should require 0.68 kilograms of plastic, at a cost of $8.00 per kilogram. required: 1. what is the standard quantity of kilograms of plastic (sq) that is allowed to make 3,700 helmets? 2. what is the standard materials cost allowed (sq × sp) to make 3,700 helmets? 3. what is the materials spending variance? 4. what is the materials price variance and the materials quantity variance? (for requirements 3 and 4, indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i. e., zero variance). input all amounts as positive values. do not round intermediate calculations.)

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Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

The last time he flew jet value air, juan's plane developed a fuel leak and had to make an 4) emergency landing. the time before that, his plane was grounded because of an electrical problem. juan is sure his current trip will be fraught with problems and he will once again be delayed. this is an example of the bias a) confirmation b) availability c) selective perception d) randomness