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Use the Following Information to Answer the Question(s) Below

question 17

Multiple Choice

Use the following information to answer the question(s) below.

Pahm Corporation owns 80% of the outstanding voting common stock of Abussi Corporation, which was purchased for $60,000 over Abussi's book value. The excess purchase price was attributable to goodwill. Abussi Corporation owns 60% of the outstanding common stock of Badock Corporation, which was purchased at book value. The separate net incomes of Pahm, Abussi, and Badock (excluding investment income) for the year are $200,000, $240,000, and $260,000, respectively. There were no fair value/book value differences in the assets and liabilities of Pahm, Abussi and Badock.

-The amount of income for the current year assigned to the noncontrolling shareholders of Abussi Corporation is

Comprehend the process for closing standard cost variances to Cost of Goods Sold.

Analyze the effect of production volume on fixed manufacturing overhead costs.

Understand the implications of purchasing and production decisions on material and labor variances.

Calculate various types of variances such as materials price and quantity variances.

Definitions:

Obtained Value

The real outcome or result attained through a statistical examination or experiment.

Within-groups Df

Degrees of freedom within groups in an analysis of variance (ANOVA), related to the variability of observations within each group.

Between-groups Df

Degrees of freedom associated with the variance between the groups in an ANOVA test, useful in determining the variability attributable to the difference between groups.

Simple Analysis of Variance

A statistical method used to compare the means of two or more groups to see if there is a significant difference between them.