Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable...
Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable or unfavorable. Also, fill in the number of units used to calculate the flexible budget amounts. There are 16 boxes to fill in.
| Units | 10,000 | 9,000 | ? | ||
| Actual results | Original (static) budget | Flexible budget | Flexible budget variances | Favorable or unfavorable | |
| Direct materials | 66,500 | 58,500 | ? | ? | ? |
| Direct labor | 80,100 | 67,500 | ? | ? | ? |
| Variance overhead | 9,700 | 9,000 | ? | ? | ? |
| Fixed overhead | 224,500 | 225,000 | ? | ? | ? |
| Totals | 380,800 | 360,000 | ? | ? | ? |
Homework Answers
Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable or unfavorable. Also, fill in the number of units used to calculate the flexible budget amounts. There are 16 boxes to fill in.
| Units | 10,000 | 9,000 | 10000 | ||
| Actual results | Original (static) budget | Flexible budget | Flexible budget variances | Favorable or unfavorable | |
| Direct materials | 66,500 | 58,500 | 65000 | 1500 | Unfavorable |
| Direct labor | 80,100 | 67,500 | 75000 | 5100 | Unfavorable |
| Variance overhead | 9,700 | 9,000 | 10000 | 300 | Favorable |
| Fixed overhead | 224,500 | 225,000 | 225000 | 500 | favorable |
| Totals | 380,800 | 360,000 | 375000 | 5800 | Unfavorable |
Add Answer to:
Calculate the flexible budget amounts and the flexible budget
variances. Note whether each variance is favorable...
V ULAS DATA REVIEW VIEW . Number y Xcut Book Antiqua Ee Copy Paste Format Painter...
V ULAS DATA REVIEW VIEW . Number y Xcut Book Antiqua Ee Copy Paste Format Painter BIV Clipboard Font X for 12A A Wrap Text Mergea Center - E S.% 22Conditional Formatos Cell Formatting Table Styles Insert Delete Alignment Styles CD #1 - Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable or unfavorable. Also, fill in the number of units used to calculate the flexible budget amounts. There are 16 boxes to...
Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U).
Complete the table below for the missing variances Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U). (b) Total Direct Materials Variance (c) Total Direct Labor Variance (e) Total Variable Overhead Variance (f) Total Fixed Overhead Variance (d) Total Manufacturing Overhead Variance (a) Total Flexible Budget Product Cost Variance
the flexible budget variance for operation income is Favorable 13) /The following data are for Point...
the flexible budget variance for operation income is
Favorable 13) /The following data are for Point Corporation: A Flexible Budget for Actual Sales Activity 18,000 $360,000 216,000 $144,000 Static Budget Actual Units 18,000 $360,000 16,000 $320,000 Sales Variable costs 234,000 $126,000 76,000 $50,000 192,000 $128,000 Contribution margin Fixed costs 80,000 $64,000 80,000 $48,000 Operating income 2,000 The flexible budget variance for operating income is A) $14,000 Favorable C) $2,000 Favorable B) $14,000 Unfavorable D) $2,000 Unfavorable
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance...
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance (0) Total Direct Labor Variance (c) Direct Labor Direct Labor Cost Variance Efficiency Variance $ 180 U $ 305 F (b) Direct Materials Efficiency Variance $ 145 U Direct Materials Cost Variance $ 520 F Total Variable Overhead Variance Total Fixed Overhead Variant Fixed Overhead (e) Variable Overhead Cost Variance 5750 Variable Overhead Efficiency Variance $ 600 F Cost Variance $ 125 F Print...
Choose the correct bolded choices to complete the sentences. The variable overhead cost variance is (favorable,...
Choose the correct bolded choices to complete the
sentences.
The variable overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted.
The variable overhead efficiency variance is (favorable,
unfavorable) because the actual hours used was
(more, less) than budgeted.
The fixed overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted for fixed overhead.
The fixed overhead volume variance is (favorable,
unfavorable) because Longman allocated (more,
less) overhead to jobs than the...
Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable....
Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round intermediate calculations.) Volume Variance Volume variance Required 1 Required 3 Required 1 Required 2 Required 3 Prepare an overhead variance report at the actual activity level of 9,000 units. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no...
EXERCISE 3: Flexible budget variances can be further analyzed to determine whether the variance was due...
EXERCISE 3: Flexible budget variances can be further analyzed to determine whether the variance was due to an unexpected fluctuation in price or usage. Use the following data to determine a price and usage variance for Direct Materials: Budget (Std) Actual Price-Direct Materials per gallon $1.475 $2.00 10 ga lons 8 galans Materials Used per unit (barrel) DM Cost per unit (barrel) X $14.75 $16.00 How many gallons per unit did Bettis originally plan for in its budget (standard)? 8...
Flexible Budgets, Direct Cost Variances, and Management Control Flexible Budget Sweeney Enterprises manufactures tires for the...
Flexible Budgets, Direct Cost Variances, and Management Control Flexible Budget Sweeney Enterprises manufactures tires for the Formula i motor racing circuit. The company's budgeted and 4 actual amounts are as follows: Budgeted for August 2017 Units to manufacture and sell Variable cost per tire Total fixed costs Budgeted selling price per tire 3,600 $71 $55,000 $114 varebone Actual Results for August 2017 Units manufactured and sold 3,500 Selling price per tire $116 Total variable costs $280,000 Total fixed costs. $51,000...
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable...
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U). Item Budget Actual Variance For U Sales price $400 $390 Sales revenue $360,000 $390,000 $ 192,500 $180,000 Cost of goods sold Material purchases at 5,000 pounds $137,500 $140,000 Materials usage $90,000 $89,000 Production volume 950 units 900 units Wages at 4,000 hours $30,000 $29,350 Labor usage at $12 per hour $48,000 $48,500 Research and development expense $11,000 $12,500 Selling and administrative expenses $24,500...
answer starting at 5 down DUSLS The budget was to manufacture and sell 5,200 units Direct...
answer starting at 5 down
DUSLS The budget was to manufacture and sell 5,200 units Direct Materials: 4 pounds per unit @ $2.00 per pound Direct Labor: 1.5 hours per units @ $15 per hour ne company sold 5,000 units and had the following costs: Direct Materials: 19,500 pounds that cost $41,480 Direct Labor: 8,000 hours that cost $118,900 Required 1. Calculate the amount actually spent on direct materials 2. Calculate the flexible budget for direct materials 3. Calculate the...
V ULAS DATA REVIEW VIEW . Number y Xcut Book Antiqua Ee Copy Paste Format Painter BIV Clipboard Font X for 12A A Wrap Text Mergea Center - E S.% 22Conditional Formatos Cell Formatting Table Styles Insert Delete Alignment Styles CD #1 - Calculate the flexible budget amounts and the flexible budget variances. Note whether each variance is favorable or unfavorable. Also, fill in the number of units used to calculate the flexible budget amounts. There are 16 boxes to...
the flexible budget variance for operation income is
Favorable 13) /The following data are for Point Corporation: A Flexible Budget for Actual Sales Activity 18,000 $360,000 216,000 $144,000 Static Budget Actual Units 18,000 $360,000 16,000 $320,000 Sales Variable costs 234,000 $126,000 76,000 $50,000 192,000 $128,000 Contribution margin Fixed costs 80,000 $64,000 80,000 $48,000 Operating income 2,000 The flexible budget variance for operating income is A) $14,000 Favorable C) $2,000 Favorable B) $14,000 Unfavorable D) $2,000 Unfavorable
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance (0) Total Direct Labor Variance (c) Direct Labor Direct Labor Cost Variance Efficiency Variance $ 180 U $ 305 F (b) Direct Materials Efficiency Variance $ 145 U Direct Materials Cost Variance $ 520 F Total Variable Overhead Variance Total Fixed Overhead Variant Fixed Overhead (e) Variable Overhead Cost Variance 5750 Variable Overhead Efficiency Variance $ 600 F Cost Variance $ 125 F Print...
Choose the correct bolded choices to complete the
sentences.
The variable overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted.
The variable overhead efficiency variance is (favorable,
unfavorable) because the actual hours used was
(more, less) than budgeted.
The fixed overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted for fixed overhead.
The fixed overhead volume variance is (favorable,
unfavorable) because Longman allocated (more,
less) overhead to jobs than the...
Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round intermediate calculations.) Volume Variance Volume variance Required 1 Required 3 Required 1 Required 2 Required 3 Prepare an overhead variance report at the actual activity level of 9,000 units. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no...
EXERCISE 3: Flexible budget variances can be further analyzed to determine whether the variance was due to an unexpected fluctuation in price or usage. Use the following data to determine a price and usage variance for Direct Materials: Budget (Std) Actual Price-Direct Materials per gallon $1.475 $2.00 10 ga lons 8 galans Materials Used per unit (barrel) DM Cost per unit (barrel) X $14.75 $16.00 How many gallons per unit did Bettis originally plan for in its budget (standard)? 8...
Flexible Budgets, Direct Cost Variances, and Management Control Flexible Budget Sweeney Enterprises manufactures tires for the Formula i motor racing circuit. The company's budgeted and 4 actual amounts are as follows: Budgeted for August 2017 Units to manufacture and sell Variable cost per tire Total fixed costs Budgeted selling price per tire 3,600 $71 $55,000 $114 varebone Actual Results for August 2017 Units manufactured and sold 3,500 Selling price per tire $116 Total variable costs $280,000 Total fixed costs. $51,000...
Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U). Item Budget Actual Variance For U Sales price $400 $390 Sales revenue $360,000 $390,000 $ 192,500 $180,000 Cost of goods sold Material purchases at 5,000 pounds $137,500 $140,000 Materials usage $90,000 $89,000 Production volume 950 units 900 units Wages at 4,000 hours $30,000 $29,350 Labor usage at $12 per hour $48,000 $48,500 Research and development expense $11,000 $12,500 Selling and administrative expenses $24,500...
answer starting at 5 down
DUSLS The budget was to manufacture and sell 5,200 units Direct Materials: 4 pounds per unit @ $2.00 per pound Direct Labor: 1.5 hours per units @ $15 per hour ne company sold 5,000 units and had the following costs: Direct Materials: 19,500 pounds that cost $41,480 Direct Labor: 8,000 hours that cost $118,900 Required 1. Calculate the amount actually spent on direct materials 2. Calculate the flexible budget for direct materials 3. Calculate the...
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