LAccessorio, an Italian manufacturer of leather belts, budgeted prices for direct materials, direct manufacturing labor, and direct
Question:
L’Accessorio, an Italian manufacturer of leather belts, budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per luxury belt—€41, €5, and
€11, respectively. The president is pleased with the following performance report:
Actual output was 9,000 luxury wallets. Assume all three direct-cost items shown are variable costs.
Required
Is the president’s optimism justified? Prepare a revised performance report that uses a flexible budget and a static budget.
Transcribed Image Text:
Direct materials Direct manufacturing labor Direct marketing (distribution) labor Actual Costs €373,500 48,600 103,500 Static Budget €410,000 50,000 110,000 Variance €36,500 F 1,400 F 6,500 F
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (5 reviews)
Solution Flexible budget Static Budget In accounting the standard cost method is an approach to prod...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Horngrens Cost Accounting A Managerial Emphasis
ISBN: 9780135628478
17th Edition
Authors: Srikant M. Datar, Madhav V. Rajan
Question Posted:
Students also viewed these Business questions
-
Connor Companys budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $ 40, $ 8, and $ 12, respectively. The president is...
-
Harvin Companys budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attach case are $ 37, $ 9, and $ 13, respectively. The president is...
-
Beta Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per luxury wallet are $41, $5, and S11, respectively. The president is...
-
2. Cash basis $(3,400)Fantastic Catering completed the following selected transactions during May 2016: May 1 Prepaid rent for three months, $1,800. 5 Received and paid electricity bill, $200. 9...
-
A design of experiments was conducted to study the effect of various factors on the yield and taste of microwave popcorn.11 The factors and their settings were as follows: Preheat involves heating...
-
Consider the following model: Yt = B1 + B2X2t B3X3t + B4X4t + ut Suppose the error term follows the AR(1) scheme in Eq. (10.6). How would you transform this model so that there is no autocorrelation...
-
Explain the role of polymorphism in the user interface.
-
The trial balances of Panther and Sargo companies of Exercise for December 31, 2012, are presented as follows: Panther Company continues to use the simple equity method. 1. Prepare all the...
-
9. What is Paleomagnetism? Explain what information is preserved and how
-
Suppose you are an employee of HP Corporation. You face a personal marginal tax rate on ordinary income of 50%, and on capital gains the tax rate is 20%. Your after-tax opportunity cost of capital is...
-
What is the fixed overhead variance? a. 1,400 favorable b. 11,600 actual c. 13,000 favorable d. 24,600 actual he following data relate to the budget and actual results of Oscar Enterprises, which...
-
What is the labor efficiency variance? a. 62,250 unfavorable b. 1,350 favorable c. 63,600 favorable d. 125,850 favorable The following data relate to the budget and actual results of Oscar...
-
Use a graph to show how the marginal product of offensive labor in the NEL might change if wide receivers in the NFL are no longer allowed to use gloves that make it easier to catch the ball on cold...
-
Lastly, after the Dobbs decision, a woman's right to an abortion likely will derive from a state or federal statute rather than the Constitution. If you had the opportunity to provide input into this...
-
You work for a small but exciting Internet of Things start-up company that develops fitness- and health-themed products for consumers. One of the latest products will be released sometime in the next...
-
What is attachment? Why is it important? How does it happen? (Be specific here.)
-
What is perfection? Why is it important? How does it happen? (Be specific here.)
-
Chris and Jamie were shopping when Chris convinced Jamie to steal a pair of jeans by wearing them out of the store and putting the shorts she was wearing in her purse. As Chris and Jamie were leaving...
-
A chain has at most one maximal element.
-
Refer to Exercise 8.S.I. Construct a scatterplot of the data. Does the appearance of the scatterplot indicate that the pairing was effective? Explain. Exercise 8.S.I. A volunteer working at an animal...
-
The Saluki Company specializes in making fraternity and sorority T-shirts for the college market. Due to the high setup costs for each batch printed, Saluki holds the T-shirt requests until demand is...
-
Kathy's Kettle Potato Chips produces gourmet chips distributed to chain sub shops throughout California. To ensure that their chips are of the highest quality and have taste appeal, Kathy has a...
-
Cavio is a cloud service provider that offers computing resources to handle enterprise-wide applications. For March 2017, Cavio estimates that it will provide 18,000 RAM hours of services to clients....
-
What cutting-edge research methodologies and technological advancements are revolutionizing our understanding of homeostatic processes, particularly in elucidating molecular signaling pathways and...
-
what ways do interdisciplinary approaches, integrating insights from physiology, biochemistry, biophysics, and mathematics, contribute to unraveling the intricacies of homeostasis and informing novel...
-
What are the evolutionary implications of homeostasis, and how has natural selection shaped the molecular machinery and regulatory networks underlying adaptive responses to environmental challenges ?
Study smarter with the SolutionInn App