Last year, Bandana Corporation budgeted for production and sales of 11,000 bandanas. The company produced and sold 10,500 bandanas. Each bandana has a standard requiring 2 feet of material at a budgeted cost of $1.50 per foot and 30 minutes of sewing time at a cost of $0.30 per minute. The bandanas sell for $14.75. Actual costs for for the production of 10,500 bandanas were $33,880 for materials (22,000 feet at $1.54 per foot) and $92,800 for labor (320,000 minutes at $0.29 per minute). What was Bandana's sales volume variance?

   a.) $1,695

   b.) $1,345

   c.) $1,375

   d.) $1,595

B.Refer to the information above. Bandana's actual revenue from bandana sales was $154,875. What was bandana's sales price variance?

   a.) $1,950 F

   b.) $1,950 U

   c.) $0

   d.) It cannot be determined from the information provided

C.) Refer to the information in question A.). What was Bandana's direct material price variance?

   a.) $1,500 F

   b.) $1,500 U

   c.) $880F

   d.) $880 U

D.) Refer to the information in question A.). What was Bandana's direct material usage variance?

   a.) $1,500 F

   b.) $1,500 U

   c.) $880 F

   d.) $880 U

E.) Refer to the information in question A.).  What was Bandana's direct labor rate variance?

   a.) $1,500 F

   b.) $1,500 U

   c.) $3,200 F

   d.) $3,200 U

F. Refer to the information in question A.). What was BAndana's direct labor efficiency varince?

   a.) $1,500 F

   b.) $1,500 U

   c.) $3,200 F

   d.) $3,200 U

Answer rating: 100% (QA)

Answer Budgeted Production 11000 Actual Production 10500 Standard Material Cost per unit Material pe... View the full answer