Question: . Cadbury Company makes cupcakes gourmet which are sold by the dozen. The company uses the following standards for their cupcakes: Standard materials quantity: 4.25

Cadbury Company makes cupcakes gourmet which are sold by the dozen. The

Cadbury Company makes cupcakes gourmet which are sold by the dozen. The company uses the following standards for their cupcakes: Standard materials quantity: 4.25 cups of ingredients at $0.56 per cup 1.10 hours at $8.30 per hour $3.80 per direct labor hour Standard labor: Factory overhead: Instructions: Calculate the standard cost of a dozen cupcakes, according to established standards EXERCISE #2- Price Variance/ Quantity Variance / Cost Variance E-furniture Company produces a Chair that requires 5 yards of material per unit. The standard price of a yard of material is $7.50. During the month, manufactured 8,500 chairs, using 43,600 yards at a cost of $7.55 per yard. Istructions: Determine (a) Price variance (b) Quantity variance (c) Cost Variance Identify if the quantities are favorable(pro) or Unfavorable.

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