The following direct materials variance computations are incomplete: Price variance ($?-$4) x 10,800 kg = $5,400...

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The following direct materials variance computations are incomplete: Price variance ($?-$4) x 10,800 kg = $5,400 U Efficiency variance (?-11,000 kg) x $4 = ? F Flexible budget variance = $? Requirement 1. Fill in the missing values and identify the flexible budget variance as favourable or unfavourable. Answer the following questions about the missing value in the first computation. (Round your answer to the nearest cent.) What is the missing value in the first computation? What is the amount of the missing value? Answer the following questions about the first missing value in the second computation. What is the first missing value in the second computation? What is the amount of this missing value (in kilograms)? Answer the following questions about the second missing value in the second computation. (Enter the amount as a positive number.) What is the second missing value in the second computation? What is the amount of this missing value? Answer the following questions about the flexible budget variance. (Er What is the flexible budget variance? Is the variance favourable or unfavourable? actual quantity of input efficiency variance price variance standard quantity of input allowed for actual number of inputs The following direct materials variance computations are incomplete: Price variance ($?-$4) x 10,800 kg = $5,400 U Efficiency variance (?-11,000 kg) x $4 = ? F Flexible budget variance = $? Requirement 1. Fill in the missing values and identify the flexible budget variance as favourable or unfavourable. Answer the following questions about the missing value in the first computation. (Round your answer to the nearest cent.) What is the missing value in the first computation? What is the amount of the missing value? Answer the following questions about the first missing value in the second computation. What is the first missing value in the second computation? What is the amount of this missing value (in kilograms)? Answer the following questions about the second missing value in the second computation. (Enter the amount as a positive number.) What is the second missing value in the second computation? What is the amount of this missing value? Answer the following questions about the flexible budget variance. (Er What is the flexible budget variance? Is the variance favourable or unfavourable? actual quantity of input efficiency variance price variance standard quantity of input allowed for actual number of inputs

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Completing the Direct Materials Variance Computations 1 Price Variance Missing value Standard Price ... View the full answer