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Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) Budget Variance Effect Item Actual Sales price 532 664 Sales revenue 587,000 614,000 $ $ 395,500 Cost of goods sold 367,000 Material purchases at 5,000 pounds 290,500 282,000 Materials usage 190,500 185,000 units 935 units 1,020 units Production volume $ Wages at 4,000 hours $ 59,400 61,400 Labor usage at $16 per...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) Item V ariance Effect Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses Budget $ 652 $ 581,000 $ 386,500 $ 276,000 $ 181,500 960 units...
Required Indicate whether each of the following variances is favorable (F) or unfavorable (U). The first...
Required Indicate whether each of the following variances is favorable (F) or unfavorable (U). The first one has been done as an example. (Select "None" if there is no effect (i.e., zero variance).) Type of Variance Item to Classify Sales volume Sales price Materials cost Materials usage Labor cost Labor usage Fixed cost spending Fixed cost per unit (volume) Standard 40,900 units 3.69 per unit $ 3.80 per pound 91,900 pounds 10.90 per hour 61,900 hours $ 409,000 $ 3.29...
Required Compute variances for the following items and indicate the effect of each variance by selecting...
Required Compute variances for the following items and indicate the effect of each variance by selecting favorable () or unfavorable (U). (Select "None" if there is no effect (.e., zero variance).) Variance Effect Item Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4.000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses Budget $ 658 $ 584,000 $ 391,000 $ 279,000 $ 186,000...
Graded Problems Saved Required Compute variances for the following items and indicate the effect of each...
Graded Problems Saved Required Compute variances for the following items and indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Item Variance Effect Sales price Sales revenue Budget $ 670 $ 590,000 $ 400,000 $ 285,000 $ 195,000 1,050 units $ 62,000 $ 97,000 $ 32,000 $ 64,000 Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor...
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
27. Compute variances for the items shown in the following list and indicate whether each variance...
27. Compute variances for the items shown in the following list and indicate whether each variance is favorable (F) or unfavea (UF). Item Selling and Administrative Expenses Sales Revenue Materials Price Cost of Goods Sold Materials Purchases Materials Usage Sales Price Labor Rate Production Volume Labor Usage Research and Development Expense F or U Budget $ 29,000 Actual $ 47,000 $325,000 $2.20 per lb. $100,000 $265,000 5,800 lbs $500 each $7.95 per hour 900 units $97,000 $22,000 Variance $370,000 $2.00...
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...
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
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...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) Budget Variance Effect Item Actual Sales price 532 664 Sales revenue 587,000 614,000 $ $ 395,500 Cost of goods sold 367,000 Material purchases at 5,000 pounds 290,500 282,000 Materials usage 190,500 185,000 units 935 units 1,020 units Production volume $ Wages at 4,000 hours $ 59,400 61,400 Labor usage at $16 per...
Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) Item V ariance Effect Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses Budget $ 652 $ 581,000 $ 386,500 $ 276,000 $ 181,500 960 units...
Required Indicate whether each of the following variances is favorable (F) or unfavorable (U). The first one has been done as an example. (Select "None" if there is no effect (i.e., zero variance).) Type of Variance Item to Classify Sales volume Sales price Materials cost Materials usage Labor cost Labor usage Fixed cost spending Fixed cost per unit (volume) Standard 40,900 units 3.69 per unit $ 3.80 per pound 91,900 pounds 10.90 per hour 61,900 hours $ 409,000 $ 3.29...
Required Compute variances for the following items and indicate the effect of each variance by selecting favorable () or unfavorable (U). (Select "None" if there is no effect (.e., zero variance).) Variance Effect Item Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4.000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses Budget $ 658 $ 584,000 $ 391,000 $ 279,000 $ 186,000...
Graded Problems Saved Required Compute variances for the following items and indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Item Variance Effect Sales price Sales revenue Budget $ 670 $ 590,000 $ 400,000 $ 285,000 $ 195,000 1,050 units $ 62,000 $ 97,000 $ 32,000 $ 64,000 Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor...
27. Compute variances for the items shown in the following list and indicate whether each variance is favorable (F) or unfavea (UF). Item Selling and Administrative Expenses Sales Revenue Materials Price Cost of Goods Sold Materials Purchases Materials Usage Sales Price Labor Rate Production Volume Labor Usage Research and Development Expense F or U Budget $ 29,000 Actual $ 47,000 $325,000 $2.20 per lb. $100,000 $265,000 5,800 lbs $500 each $7.95 per hour 900 units $97,000 $22,000 Variance $370,000 $2.00...
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
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...
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