Below is Justin Corp's flexible budget and actual results for making 52,000 units. The company's expected...
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Below is Justin Corp's flexible budget and actual results for making 52,000 units. The company's expected manufacturing products in the static budget is 50,000 units. Budget Amt Unit (Batches of 100) Variable costs Direct Materials Direct Labor Variable Overhead Fixed Costs Fixed Overhead Total Per Unit 1,75 2.88 0.72 Actual Results Variance 52000 Additional information for DM: 117000 145600 30160 23920 303680 26000 -4160 -7280 • Direct materials efficiency standard • Actual amount of paraffin used Actual cost of paraffin used -1080 480 Flexible Budget $2000 91000 149760 37440 Using the above table and below additional information, calculate direct material cost price (cost) variance and quantity (efficiency) variance. 25000 303200 1.00 pound of paraffin per batch of crayons 65,000 pounds $117,000 Below is Justin Corp's flexible budget and actual results for making 52,000 units. The company's expected manufacturing products in the static budget is 50,000 units. Budget Amt Unit (Batches of 100) Variable costs Direct Materials Direct Labor Variable Overhead Fixed Costs Fixed Overhead Total Per Unit 1,75 2.88 0.72 Actual Results Variance 52000 Additional information for DM: 117000 145600 30160 23920 303680 26000 -4160 -7280 • Direct materials efficiency standard • Actual amount of paraffin used Actual cost of paraffin used -1080 480 Flexible Budget $2000 91000 149760 37440 Using the above table and below additional information, calculate direct material cost price (cost) variance and quantity (efficiency) variance. 25000 303200 1.00 pound of paraffin per batch of crayons 65,000 pounds $117,000
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Related Book For
Managerial Accounting
ISBN: 978-1259024900
9th canadian edition
Authors: Ray Garrison, Theresa Libby, Alan Webb
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