Handerson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 9.2 kilos $ 6.70 per kilo Direct labor 0.4 hours $ 27.00 per hour Variable overhead 0.4 hours $ 6.70 per hour The company reported the following results concerning this product in August. Actual output 3,900 units Raw materials used in production 29,730 kilos Purchases of raw materials 32,300 kilos Actual direct labor-hours 1,130 hours Actual cost of raw materials purchases $ 202,920 Actual direct labor cost $ 23,436 Actual variable overhead cost $ 8,240 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for August is:. a. $924 F
b. $924 U
c. $669 F
d. $669 U

Prepare journal entries for each transaction and identify the financial statement impact of each entry. the financial statements are automatically generated based on the journal entries recorded. apr. 1 tanner invested $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock.apr. 2 the company prepaid $9,000 cash for 12 months' rent for office space. the company's policy is record prepaid expenses in balance sheet accounts.apr. 3 the company made credit purchases for $8,000 in office equipment and $3,600 in office supplies. payment is due within 10 days.apr. 6 the company completed services for a client and immediately received $4,000 cash.apr. 9 the company completed a $6,000 project for a client, who must pay within 30 days.apr. 13 the company paid $11,600 cash to settle the account payable created on april 3.apr. 19 the company paid $2,400 cash for the premium on a 12-month insurance policy. the company's policy is record prepaid expenses in balance sheet accounts.apr. 22 the company received $4,400 cash as partial payment for the work completed on april 9.apr. 25 the company completed work for another client for $2,890 on credit.apr. 28 the company paid $5,500 cash in dividends.apr. 29 the company purchased $600 of additional office supplies on credit.apr. 30 the company paid $435 cash for this month's utility bill.

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Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.