Calculate the following: 1. Price variance for direct material is: 2. Efficiency variance for direct material...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Calculate the following: 1. Price variance for direct material is: 2. Efficiency variance for direct material is: 3. Price variance for direct labor is: 4. Efficiency variance for direct labor is: Budgeted units produced and sold Actual selling price Sales volume variance for units sold Sales volume variance for revenue Budgeted direct material allowed per unit of output Actual direct material allowed per unit of output Budgeted direct manufacturing labor cost per hour Actual direct manufacturing labor cost per hour Budgeted manufacturing overhead cost per unit of output Actual manufacturing overhead cost per unit of output Total budgeted variable costs per unit of output Total actual variable costs per unit of output Budgeted direct manufacturing labor allowed per unit of output Actual direct manufacturing labor allowed per unit of output Budgeted and actual fixed costs 20000 140 3000(F) 390000(F) Four units Five units 40 42 14 17.1 110 86 .6 hour 45 hour 100000$ Calculate the following: 1. Price variance for direct material is: 2. Efficiency variance for direct material is: 3. Price variance for direct labor is: 4. Efficiency variance for direct labor is: Budgeted units produced and sold Actual selling price Sales volume variance for units sold Sales volume variance for revenue Budgeted direct material allowed per unit of output Actual direct material allowed per unit of output Budgeted direct manufacturing labor cost per hour Actual direct manufacturing labor cost per hour Budgeted manufacturing overhead cost per unit of output Actual manufacturing overhead cost per unit of output Total budgeted variable costs per unit of output Total actual variable costs per unit of output Budgeted direct manufacturing labor allowed per unit of output Actual direct manufacturing labor allowed per unit of output Budgeted and actual fixed costs 20000 140 3000(F) 390000(F) Four units Five units 40 42 14 17.1 110 86 .6 hour 45 hour 100000$
Expert Answer:
Related Book For
Project Management A Systems Approach to Planning Scheduling and Controlling
ISBN: 978-0470278703
10th Edition
Authors: Harold Kerzner
Posted Date:
Students also viewed these accounting questions
-
Students should work in teams of up to 3 members (It is recommended that teams are formed based on IP groups). Students should not discuss the case with anyone except their teammates. Students should...
-
REQUIRED: Prepare a flexible profit plan in contribution margin format showing all revenues and costs for 2021 (3 points). Sales price variance (1 point) Sales volume variance based on contribution...
-
Pacific Company provides the following information about its budgeted and actual results for June 2014 . Although the expected June volume was 25,000 units produced and sold, the company actually...
-
Explain why a production quota is inefficient.
-
Argue that in a breadth-first search, the value d[u] assigned to a vertex u is independent of the order in which the vertices in each adjacency list are given. Using Figure 22.3 as an example, show...
-
A manufacturer makes absorber plates that are 1.2 m à 0.8 m in size for use in solar collectors. The back side of the plate is heavily insulated, while its front surface is coated with black...
-
Lococo Manufacturing Inc. operates the Patio Furniture Division as a profit cen- ter. Operating data for this division for the year ended December 31, 2002, are as follows. In addition, Lococo...
-
The following data are for Ernst Company. Note: All inventory is purchased on account, and Accounts Payable relates only to the purchase of inventory. Instructions: Compute the following: 1. The...
-
Calculate the total sales volume variance (i.e. sales volume variance for net profit) for the scenario mentioned below. We budgeted to sell 50,000 units for $150,000 net profit. We actually sold...
-
Holding cost is $2.50/unit/week (period) setup cost: $175 Lead time 1 week beginning inventory 50 stockout cost=$10 Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross Requirements 30 20 40 10 40 60 20 80 10 90...
-
Accounting Question: How can activity - based costing ( ABC ) lead to better managerial decisions compared to traditional costing methods? * NO AI ANSWERS * AI SOLUTIONS WILL BE REPORTED *
-
The concept of joint and several liability holds that a person who caused an injury concurrently with another person can be held equally liable for the full judgment awarded by a court. Some states...
-
Statutes of limitations specify the timeframe within which a lawsuit must be commenced.
-
Proponents of a no-fault approach to reducing the costs associated with exorbitant malpractice awards cite as its advantages swifter and less expensive resolution of claims and more equitable...
-
Some healthcare providers have filed countersuits after being named in what they believe to be frivolous claims. The threat of such suits, however, has not proven to be helpful in reducing the number...
-
A crimea social harm defined and made punishable by lawis generally either a misdemeanor or a felony. A misdemeanor is an offense generally punishable by less than 1 year in jail and/or a fine. A...
-
Dividends per share Seacrest Company has 10,000 shares of cumulative preferred 1% stock, $150 par and 50,000 shares of $25 par common stock. The following amounts were distributed as dividends: 20Y1...
-
Chicago Company sold merchandise to a customer for $1,500 cash in a state with a 6% sales tax rate. The total amount of cash collected from the customer was $558. $600. $642. $636. Nevada Company...
-
How would you defend the statement that a project manager must help himself?
-
As part of a feasibility study, you are asked to prepare, with the assistance of functional managers, a schedule and cost summary for a project that will occur three years downstream, if the project...
-
Projects have a way of providing a chance for glory for many individuals. Unfortunately, they quite often give the not-so-creative individual an opportunity to demonstrate his incompetence. Examples...
-
Virginia Oil Corporation, a full cost company, incurs the following costs during 2016: During 2017, the following costs were incurred: Delay rentals were paid on Lease A, $2,000, and Lease B, $3,000....
-
Paddle Petroleum has the following account balances at 12/31/15: The above properties are abandoned in 2016. Record the abandonment entry. Lease A: unproved property Lease B: proved property... Wells...
-
Aaron Energy Corporation has the following account balances at 12/31/15: At 12/31/15, Lease A is considered to be 40% impaired. Aaron Energys estimated abandonment rate of insignificant unproved...
Study smarter with the SolutionInn App