11) Corp has prepared the following flexible budget for . F = favorable variance, U = unfavorable variance. Variances Material A Material B Flexible Budget $40,000 60,000 Direct manufacturing labor 80,000 121TH Price $1,000F 500U 500U The most likely explanation of the above variances for Material A is that A) a lower price than expected was paid for Material A B) higher-quality raw materials were used than were planned C) the company used a higher-priced supplier D) Material A used during September was $2,000 less than expected 12) The actual amount spent for Material B was ont for DI was Efficiency $3,000U 1,500F 2,500F

11) Corp has prepared the following flexible budget for . F = favorable variance, U = unfavorable variance. Variances Material A Material B Flexible Budget $40,000 60,000 Direct manufacturing labor 80,000 121TH Price $1,000F 500U 500U The most likely explanation of the above variances for Material A is that A) a lower price than expected was paid for Material A B) higher-quality raw materials were used than were planned C) the company used a higher-priced supplier D) Material A used during September was $2,000 less than expected 12) The actual amount spent for Material B was ont for DI was Efficiency $3,000U 1,500F 2,500F

Name: 11) Corp has prepared the following flexible budget for . F = favorab
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Description: 11) Corp has prepared the following flexible budget for . F = favorable variance, U = unfavorable variance.VariancesMaterial AMaterial BDirect manufacturing laborFlexibleBudget$40,00060,00080,000Price$1,000F500U500UEfficiency$3,000U1,500F2,500FThe m

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Figure out what the total, price, and quantity variances are from the given information. Plz answer fast without plagiarism i give up vote
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Required Compute variances for the following items and indicate whether each variance is favorable or unfavorable: Note: Select "None" if there is no effect (i.e., zero variance). 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 $ Actual 186,000 pounds 182,000 pounds 990 units 920 units 60,800 $ 96,400 $ 26,000 $ 55,000 $ 529 608,000 364,000 286,000 59,100 97,800 31,000 44,000 Variance pounds units Effect
In the last quarter Company X has sourced a higher grade of material for its main product the Gyro. The material is more expensive than the previous material used but it has been found that significantly less of the new material is needed for each unit of the Gyro produced than the previous material. Which variances would you expect to see in the operating statement of company X for the last quarter? A.An adverse material price variance A favourable material usage variance B.A favourable material price variance An adverse material usage variance C.An adverse material price variance An adverse material usage variance D.A favourable material price variance A favourable material usage variance
Fill in the blanks with the variances and whether they are favorable or unfavorable. Format your answers with the number and capitalized F/U with no space in between (ex: 200.5F). Do not enter a dollar sign. Enter 0 if there is no variance. Actual Spending Variance Flexible Activity Variance Budgeted Units 285 0 285 35 250 Revenues 6,450 6,697.5 5,875 Direct Labor 2,700 2,707.5 2,375 Direct Materials 790 769.5 675 Manufacturing Overhead 1,060 1,197 1,050 S&A Expenses 171 171 150 Income 1,729 1,852.5 1,625
The calculation of direct materials variances shows an adverse direct materials price variance of £5,000 and a favourable direct materials usage variance of £5,500. Which ONE of the following is the best interpretation of this result? OA. The price paid for the material was equal to the budget but the wastage was reduced because of a new training course for staff OB. A higher grade of employee was employed compared with the grade used for the budget, and consequently there was less wastage OC. A machine was faulty, causing damage to the material which resulted in greater wastage O D. The purchasing department bought higher-priced material of better quality, which led to reduced wastage
In analyzing company operations, the controller of the Carson Corporation found a $250,000 favorable flexible budget revenue variance. The variance was calculated by comparing the actual results with the flexible budget. This variance can be wholly explained by: (CMA adapted) Multiple Choice О the total flexible budget variance. О the total static budget variance. О changes in unit selling prices. changes in the number of units sold.
10)The flexible-budget variance for materials is $5,000 (U). The sales-volume variance is $13,000 (U). The price variance for material is $31000 (F). The efficiency variance for direct manufacturing labor is $7,000 (F). Calculate the efficiency variance for materials. 11)Corp has prepared the following flexible budget for . F = favorable variance, U = unfavorable variance.
The Provence Company has the following flexible budget variances: unfavorable direct material price variance and favorable direct material quantity variance. A logical explanation for this is: a) They made fewer products than they budgeted for. b) They purchased cheaper material than budgeted. c) All of these choices are logical explanations. d) They purchased higher quality material than budgeted.
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Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): Note: Select "None" if there is no effect (i.e., zero variance). 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 $12 per hour Research and development expense Selling and administrative expenses $ $ $ $ $ $ $ Budget 400 $ 360,000 $ 192,500 $ 137,500 $ 90,000 $ 950 units 30,000 $ 48,000 $ 11,000 $ 24,500 $ Actual 390 390,000 180,000 140,000 89,000 900 units 29,350 48,500 12,500 20,000 Prev ***KKANAK-ANA Variance units 3 of 4 Next BEETERMEER******