The managers of Sesnie Co., a contract manufacturer of computer monitors, are seeking explanations for the variances
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Sesnie Co. Standard Cost Income Statement Year Ended December 31 Sales revenue at standard cost Flexible budget sales revenue vari Sales revenue at a Cost of goods sold at standard cost $1,208,000 2,000 $1,210,000 710,000 ring cost variances: t materials price variance Direc Direct materials quantity variance Direct labor rate variance Direct labor efficiency variance Variable overhead rate variance Variable overhead efficiency variance Fixed overhead budget variance Fixed overhead volume variance Total manufacturing variances $10,000 F 34,000 U 10,000 U 24,000 F 16,000 U 3,000 F 11,000 U 9,000 F Cost of goods sold at actual cost Gross proft Marketing and administrative expenses. Operating 25,000 $ 735,000 S 475,000 416,000 S 59,000
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Materials The un favorable price variance occurred because Sesnie paid more than the standard price for raw materials The un favorable efficiency vari...View the full answer
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