Becton labs, inc., produces various chemical compounds for industrial use. one compound, called fludex, is prepared using an elaborate distilling process. the company has developed standard costs for one unit of fludex, as follows: standard quantity standard price or rate standard cost direct materials 2.30 ounces $ 24.00 per ounce $ 55.20 direct labor 0.80 hours $ 15.00 per hour 12.00 variable manufacturing overhead 0.80 hours $ 3.50 per hour 2.80 $ 70.00 during november, the following activity was recorded relative to production of fludex: a. materials purchased, 12,500 ounces at a cost of $282,500. b. there was no beginning inventory of materials; however, at the end of the month, 3,000 ounces of material remained in ending inventory. c. the company employs 26 lab technicians to work on the production of fludex. during november, they worked an average of 150 hours at an average rate of $14.00 per hour. d. variable manufacturing overhead is assigned to fludex on the basis of direct labor-hours. variable manufacturing overhead costs during november totaled $8,000. e. during november, 4,100 good units of fludex were produced . required: 1. for direct materials: a. compute the price and quantity variances.

The following information relates to the pina company. date ending inventory price (end-of-year prices) index december 31, 2013 $73,700 100 december 31, 2014 100,092 114 december 31, 2015 107,856 126 december 31, 2016 123,009 131 december 31, 2017 113,288 136 use the dollar-value lifo method to compute the ending inventory for pina company for 2013 through 2017.

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Milden company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. as an aid in planning, the company has decided to start using a contribution format income statement. to have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas: cost cost formula cost of good sold $35 per unit sold advertising expense $210,000 per quarter sales commissions 6% of sales shipping expense ? administrative salaries $145,000 per quarter insurance expense $9,000 per quarter depreciation expense $76,000 per quarter management has concluded that shipping expense is a mixed cost, containing both variable and fixed cost elements. units sold and the related shipping expense over the last eight quarters follow: quarter units sold shipping expense year 1: first 10,000 $ 119,000 second 16,000 $ 175,000 third 18,000 $ 190,000 fourth 15,000 $ 164,000 year 2: first 11,000 $ 130,000 second 17,000 $ 185,000 third 20,000 $ 210,000 fourth 13,000 $ 147,000 milden company’s president would like a cost formula derived for shipping expense so that a budgeted contribution format income statement can be prepared for the next quarter. required: 1. using the high-low method, estimate a cost formula for shipping expe