General accounting ABC Construction builds custom decks. For May, theybudgeted to build 20 decks at $8,500 per deck. The actualresults for May were 18 decks built at $8,750 per deck.Calculate the Flexible Budget Variance for May.

Step 1: Definition of Flexible Budget VarianceThe Flexible Budget Variance measures the difference…

Answered: ABC Construction builds custom decks.…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 15EA: Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per...

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Radiant Systems allocates manufacturing overhead based on machine hours. Each connector should require 13 machine hours. According to the static budget, Radiant expected to incur the following (Click the icon to view the static budget Information.) During August, Radiant actually used 400 machihe hours to make 130 connectors and spent $5,500 in variable manufacturing costs and $9,100 in fixed manufacturing overhead costs. Calculate the variable overhead cost variance for Radiant OA. $2,850 F OB. $6,450 F Data table Oc. $9,950 F OD. $3,500 U 1,300 machine hours per month (100 connectors x 13 machine hours per connector $6,500 in variable manufacturing overhead costs $7,535 in fixed manufacturing overhead costs Print Done - X
Safeflower Systems allocates manufacturing overhead based on machine hours. Each connector should require 13 machine hours. According to the static budget, Safeflower expected to incur the following: (Click the icon to view the static budget information.) During August, Safeflower actually used 500 machine hours to make 86 connectors and spent $5,300 in variable manufacturing costs and $9,100 in fixed manufacturing overhead costs. Calculate the variable overhead cost variance for Safeflower. A. $290 F OB. $2,800 U OC. $5,890 F O-D. $3,090 F Data Table 1,300 machine hours per month (100 connectors x 13 machine hours per connector) $6,500 in variable manufacturing overhead costs $7,535 in fixed manufacturing overhead costs Print Done X
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Albert’s camera shop has prepared the following flexible budget for September and is in the process of interpreting. Flexible budget Price Variance Efficiency Variance DM $60,000 $2,800 F $1,900 F DL $85,000 $6,000 U $2,000 F Variable OH $48,000 $3,000 F $7,000 U Fixed OH $55,000 $2,000 U 0 Compute the actual amount spent for direct materials? So I got 2,800 F + 1,900 F = 4,700F? Not sure what 2 favorables equal. then 60,000 + 4,700 = 64,700? Please explain what 2 favorables would equal and 2 unfavorables will equal? I confused not sure how that works
If Answered within 30mins,it would be appreciable!
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ABC Construction builds custom decks. For May, they budgeted to build 20 decks at $8,500 per deck. The actual results for May were 18 decks built at $8,750 per deck. Calculate the Flexible Budget Variance for May.