The following direct materials variance computations are incomplete Price variance (37-54)×10 800 kg Efficiency variance (?-10 200 kg)x54 = $5.400 U = 30 Flexible budget variance 5? Requirement 1. Fill in the missing values and identify the flexible budget variance as favourable or unfavourabl in the first computation the missing value is the (Enter the amount as a positive number Round your answers to the nearest whole in the second computation the first missing value is the MS F

The following direct materials variance computations are incomplete Price variance (37-54)×10 800 kg Efficiency variance (?-10 200 kg)x54 = $5.400 U = 30 Flexible budget variance 5? Requirement 1. Fill in the missing values and identify the flexible budget variance as favourable or unfavourabl in the first computation the missing value is the (Enter the amount as a positive number Round your answers to the nearest whole in the second computation the first missing value is the MS F

Name: KThe following direct materials variance computations are incomplete=
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: KThe following direct materials variance computations are incomplete= $5.400 UPrice varianceEfficiency variance= ?UFlexible budget variance 5?(52-54)×10 800 kg(?-10 200 kg)x54Requirement1. Fill in the missing values and identify the flexible budget

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

STANDARD COSTING ASSIGNMENT ( SOLVE ONLY 1- 17)|| 1-10 Spots Inc. uses a standard cost system for its production process. Spots applies overhead based on direct labor hours. The following information is available for July: Standard: Actual: Direct labor hours per unit Variable overhead per hour Fixed overhead per hour (based on 11,990 DLH) P3.00 2.20 Units produced Direct labor hours 4,400 8,800 P29,950 P42,300 P 2.50 Variable overhead Fixed overhead
docs.google.com forms/d/e/1FA1PQLSE-rQkh8FZPGnapek0906DigYuMW7PNoioLMsrvBay Question - 2: Short Answers The direct and indirect variances. For Example : 700000 u or 700000 f or 700000 only ?What is the price variance of direct materials -1 Wangsgard Manufacturing has the following standard cost sheet for one of its products: $ 10 Direct materials (2 ft. @ $5) Direct labor (0.5 hr. @ $10) Fixed overhead (0.5 hr. @ $2)' Variable overhead (0.5 hr. @ $4) Standard unit cost 1 $18 *Rate based on expected activity of 2,500 hours During the most recent year, the following actual results were recorded: Production 6,000 units $ 61,100 29,580 Direct materials (11,750 ft. purchased and used) Direct labor (2,900 hrs.) Fixed overhead Variable overhead 6,000 10,500 Refer to the data given in point (1). What is the efficiency variance of direct -2 ?labor AR
Consider two assets with expected return R1=0.22,R2=0.55and variance are s1=0.80, s2=0.88 and r12=0.55 respectively.A portifolio with weights W1=0.25 and W2= 0.65 is formed calculate the expected return and variance of the portifolio
Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours. In the most recent month, 175,000 items were shipped to customers using 7,400 direct labor-hours. The company incurred a total of $24,790 in variable overhead costs. k According to the company's standards, 0.04 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.40 per direct labor-hour. nt Required: 1. What is the standard labor-hotfs allowed (SH) to ship 175,000 items to customers? 2. What is the standard variable overhead cost allowed (SH x SR) to ship 175,000 items to customers? 3. What is the variable overhead spending…
Can you help me interpret these results i)Revenue Variance, Price, and Volume Variance Revenue variance = Actual revenues – Static revenues = $2,200,000 - $1,9800,000 = $220,000 Price variance = Actual revenues – Flexible revenues =$2,2000,000 - $2,200,000 =$0 Volume variance = Flexible revenues – Static revenues =$2,200,000 - $1,980,000 = $220,000 ii) Cost Variance, Volume Variance and Management Variance Cost variance = Static cost - Actual cost =$1,350,000 -$1,625,000 = $-275,000 Volume = Static cost – Flexible costs = $1,350,000 - =$1,475,000 = $-125,000 Management variance = Flexible cost- Actual cost =$2,200,000 - 1,625,000 =$575,000 iii) Profit Variance Profit Variance= Actual Profit - Static Profit = 225,000 - 130,000 = 95,000 Revenue Variance = Actual Revenue - Static Revenue = 2, 200,000 - 1,980,000 = 220,000 Cost Variance = Static Cost - Actual Costs = 1,850,000 - 1,975,000 = (125,000) Can you help me interpret these results
4. What is the total production variance? a. P4,000 unfavorable b. P3,000 unfavorable c. P3,000 favorable d. P7,000 favorable
A simple variance analysis performed on material costs gives the following results: S Price variance 2,000 Adverse Usage variance 3,000 Favourable When the variance analysis was performed again using a planning and operational approach, the following results were obtained: $ Operational variances Price variance 1,000 Adverse Usage variance 2,000 Favourable Planning variances Price variance 1,000 Adverse Usage variance What is the planning usage variance? $1,000 Favourable $1,000 Adverse $2,000 Favourable $2,000 Adverse
I need help with problems 1 a-b, and 2-a-c. Part of 1 b is cut off, to clarify it says that I need to solve for the "price variance" and the "spending variance." Thanks for the help in advance!
Refer to Pearce Company Using the three-variance approach, what is the efficiency variance? A. $11,770 F B. $2,200 F C. $7,975 U D. $5,775 U
Use the following returns for X and Y. Returns Year x y 1 21.8% 26.4% 2 -16.8 -3.8 3 9.8 28.4 4 19.6 -14.6 5 4.8 32.4 a. Calculate the average returns for X and Y. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) b. Calculate the variances for X and Y. (Do not round intermediate calculations and round your answers to 6 decimal places, e.g., 32.161616.) c. Calculate the standard deviations for X and Y. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $4.00 per pound) Direct labor (1.8 hours @ $12.00 per hour) $ 12.00 21.60 33.30 Overhead (1.8 hours @ $18.50 per hour) Standard cost per unit $ 66.90 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Maintenance 30,000 135,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 70,000 Depreciation-Machinery Taxes and insurance 16,000 Supervisory salaries 254,500 Total fixed overhead costs 364,500
Compute for the following and indicate if its FAVORABLE or UNFAVORABLE Format: 11,111 F or 11,111 U Cost variance= Cost-Quantity variance =