1. Data Trust Incorporated, manufactures Poke Monster figures and has the following data from its operation for the year just completed. Actual A Flexible Budget B Master Budget Units 1,540 1,240 Sales (dollars) $ 101,000 C $ 20,400 F Variable cost E $ 64,480 Contribution Margin $ 1,400 U D Fixed cost F $ 5,080 Operating income $ 15,200 The sales volume variance in terms of operating income is: 2. Distill Company manufactures only one product and uses a standard cost system. During the past month, manufacturing operations for the company had the following variances: direct labor rate variance = $45,600 favorable; direct labor efficiency variance = $76,000 unfavorable. Distill allows 4 standard direct labor hours per unit produced, and its standard direct labor hourly pay rate is $50. During the month, the company used 20% more direct labor hours than the standard allowed for the output achieved. What was the direct labor flexible-budget (FB) variance for the month? 3. In September, Wheeler Incorporated sold 40,000 units of its only product for $339,000, and incurred a total cost of $315,000, of which $34,000 was fixed costs. The flexible budget for September showed total sales of $390,000. Among variances of the period were: total variable cost flexible-budget variance, $7,000U; total flexible-budget variance, $81,000U; and, sales volume variance, in terms of contribution margin, $36,000U. The sales volume variance, in terms of operating income, for September was: 4. Oxide Company maintains no inventories and has the following data pertaining to one of its direct materials in July: Standard quantity of direct materials for the units manufactured (SQ) 31,700 Direct materials purchases—actual cost $ 68,000 Standard price per unit of direct materials (SP) $ 2.00 Direct material efficiency variance—favorable $ 6,200 All materials purchased during the month were issued to production. What was the direct materials price variance for July?
1. Data Trust Incorporated, manufactures Poke Monster figures and has the following data from its operation for the year just completed.
| Actual | A | Flexible Budget | B | Master Budget | |
|---|---|---|---|---|---|
| Units | 1,540 | 1,240 | |||
| Sales (dollars) | $ 101,000 | C | $ 20,400 F | ||
| Variable cost | E | $ 64,480 | |||
| Contribution Margin | $ 1,400 U | D | |||
| Fixed cost | F | $ 5,080 | |||
| Operating income | $ 15,200 |
The sales volume variance in terms of operating income is:
2. Distill Company manufactures only one product and uses a standard cost system. During the past month, manufacturing operations for the company had the following variances: direct labor rate variance = $45,600 favorable; direct labor efficiency variance = $76,000 unfavorable. Distill allows 4 standard direct labor hours per unit produced, and its standard direct labor hourly pay rate is $50. During the month, the company used 20% more direct labor hours than the standard allowed for the output achieved.
What was the direct labor flexible-budget (FB) variance for the month?
3. In September, Wheeler Incorporated sold 40,000 units of its only product for $339,000, and incurred a total cost of $315,000, of which $34,000 was fixed costs. The flexible budget for September showed total sales of $390,000. Among variances of the period were: total variable cost flexible-budget variance, $7,000U; total flexible-budget variance, $81,000U; and, sales volume variance, in terms of contribution margin, $36,000U.
The sales volume variance, in terms of operating income, for September was:
4. Oxide Company maintains no inventories and has the following data pertaining to one of its direct materials in July:
| Standard quantity of direct materials for the units manufactured (SQ) | 31,700 |
|---|---|
| Direct materials purchases—actual cost | $ 68,000 |
| Standard price per unit of direct materials (SP) | $ 2.00 |
| Direct material efficiency variance—favorable | $ 6,200 |
All materials purchased during the month were issued to production.
What was the direct materials price variance for July?
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