How can favorable and unfavorable variances be communicated? NOTE about this section: It will AUTOMATICALLY UPDATE ONCE

How can favorable and unfavorable variances be communicated? 

 

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NOTE about this section: It will AUTOMATICALLY UPDATE ONCE YOU PUT IN THE INFORMATION IN THE 2021 ACTUAL GREEN SECTION Plastic Parts Direct Materials: Metal Parts Direct Materials: Paint and Stickers Direct Materials: Direct Labor Hours: Manufacturing Overhead Machine Hours: Direct Materials Price and Quantity Standard Plastic Parts Direct Materials: Purchase price, net of discounts Freight Receiving/handling Required materials Allowance for waste Direct Materials Price and Quantity Standard Metal Parts Direct Materials: Purchase price, net of discounts Freight Receiving/handling Required materials Allowance for waste 2021 ACTUAL STANDARD COST BUDGET VARIANCE - Current Standard Predetermined Unit Costs Favorable is Postive | Unfavorable is Negative Pounds Per Unit Usage Measurement 2021-2022 STANDARD vs. ACTUAL COST BUDGET VARIANCE - Current Standard Predetermined Unit Costs Receiving/handling Required materials Allowance for waste Direct Materials Price and Quantity Standard Paint and Stickers Direct Materials: Purchase price, net of discounts Freight Direct Labor Price and Quantity Standard Direct Labor Hours: Hourly wage rate Cost of living adjustments Payroll taxes Other benefits. Actual production Breaks Setup and cleaning Manufacturing Overhead Quantity Standard Manufacturing Overhead Manufacturing Insurance Manufacturing Plant Utilities Manufacturing Cleanup 4 times Direct Labor Hours 20 30 3 5 60 Pounds Per Unit 20 0 20 30 0 30 3 0 3 5 5 0 0 60 pounds pounds pounds hours hours 2 Usage Measurement pounds pounds. pounds hours hours $ $ $ $ $ $ $ $ $ $ $ Cost Per Pound (1.00) $ (1.50) $ $ (8.00) $ (4.00) $ (14.50) $ Cost Per Pound (1.00) (0.50) (0.25) (0.25) (1.50) (1.10) (0.20) (0.20) (8.00) (6.00) (2.00) (4.00) (2.00) (2.00) Cost Per Unit (340.00) (690.00) 15.00 (60.00) 320.00 (755.00) NOTE about this section: It will AUTOMATICALLY UPDATE ONCE YOU PUT IN THE INFORMATION IN THE 2021 ACTUAL GREEN SECTION Plastic Parts Direct Materials: Metal Parts Direct Materials: Paint and Stickers Direct Materials: Direct Labor Hours: Manufacturing Overhead Machine Hours: Direct Materials Price and Quantity Standard Plastic Parts Direct Materials: Purchase price, net of discounts Freight Receiving/handling Required materials Allowance for waste Direct Materials Price and Quantity Standard Metal Parts Direct Materials: Purchase price, net of discounts Freight Receiving/handling Required materials Allowance for waste 2021 ACTUAL STANDARD COST BUDGET VARIANCE - Current Standard Predetermined Unit Costs Favorable is Postive | Unfavorable is Negative Pounds Per Unit Usage Measurement 2021-2022 STANDARD vs. ACTUAL COST BUDGET VARIANCE - Current Standard Predetermined Unit Costs Receiving/handling Required materials Allowance for waste Direct Materials Price and Quantity Standard Paint and Stickers Direct Materials: Purchase price, net of discounts Freight Direct Labor Price and Quantity Standard Direct Labor Hours: Hourly wage rate Cost of living adjustments Payroll taxes Other benefits. Actual production Breaks Setup and cleaning Manufacturing Overhead Quantity Standard Manufacturing Overhead Manufacturing Insurance Manufacturing Plant Utilities Manufacturing Cleanup 4 times Direct Labor Hours 20 30 3 5 60 Pounds Per Unit 20 0 20 30 0 30 3 0 3 5 5 0 0 60 pounds pounds pounds hours hours 2 Usage Measurement pounds pounds. pounds hours hours $ $ $ $ $ $ $ $ $ $ $ Cost Per Pound (1.00) $ (1.50) $ $ (8.00) $ (4.00) $ (14.50) $ Cost Per Pound (1.00) (0.50) (0.25) (0.25) (1.50) (1.10) (0.20) (0.20) (8.00) (6.00) (2.00) (4.00) (2.00) (2.00) Cost Per Unit (340.00) (690.00) 15.00 (60.00) 320.00 (755.00)

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Every business owner should have a budget that outlines the companys future plans A budget demonstra... View the full answer