Below is Justin Corp's flexible budget and actual results for making 52,000 units. The company's expected manufacturing products in the static budget is 50,000 units. Budget Amt Per Unit Unit (Batches of 100) Variable costs Direct Materials Direct Labor Variable Overhead Fixed Costs Fixed Overhead Total 1.75 2.88 0.72 Actual Results Variance 52000 117000 145600 30160 23920 303680 26000 -4160 -7280 • Direct labor efficiency standard • Actual amount of direct labor hours Actual cost of direct labor -1080 480 Flexible Budget 52000 91000 149760 37440 25000 303200 Using the above table and below additional information, calculate direct labor cost price variance and quantity variance. Additional information for DL: 0.24 DLHr per batch of crayons 10,400 DL.Hr $145,600 Oa. Price variance is 650 unfavorable, and quantity variance is 22,480 unfavorable. b. Price variance is 20,800 unfavorable, and quantity variance is 24,960 favorable.

Below is Justin Corp's flexible budget and actual results for making 52,000 units. The company's expected manufacturing products in the static budget is 50,000 units. Budget Amt Per Unit Unit (Batches of 100) Variable costs Direct Materials Direct Labor Variable Overhead Fixed Costs Fixed Overhead Total 1.75 2.88 0.72 Actual Results Variance 52000 117000 145600 30160 23920 303680 26000 -4160 -7280 • Direct labor efficiency standard • Actual amount of direct labor hours Actual cost of direct labor -1080 480 Flexible Budget 52000 91000 149760 37440 25000 303200 Using the above table and below additional information, calculate direct labor cost price variance and quantity variance. Additional information for DL: 0.24 DLHr per batch of crayons 10,400 DL.Hr $145,600 Oa. Price variance is 650 unfavorable, and quantity variance is 22,480 unfavorable. b. Price variance is 20,800 unfavorable, and quantity variance is 24,960 favorable.

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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A company's flexible budget for 9,000 units of production showed per unit contribution margin of $4.80 and fixed costs, $20,000. The income expected If the company produces and sells 14,000 units is: Multiple Choice $47,200. $3.000. $67,200. $23.200. $20.000. A company's flexible budget for 13,300 units of production showed sales, $43,890; variable costs, $15,960; and fixed costs, $15,400, The income expected if the company produces and sells 17,300 units is: Multiple Choice $3,333. $12,530. $25,500. $20,930. $26,313.
Bramble Corp.produced 200000 units in 128000 direct labor hours. Production for the period was estimated at 267000 units and 141000 direct labor hours. A flexible budget would compare budgeted costs and actual costs, respectively, at O 195000 hours and 141000 hours. Ⓒ141000 hours and 128000 hours. 128000 hours and 128000 hours. O 195000 hours and 128000 hours.
Dhapa
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Julum Limited manufactures a single product and operates a standard costing system. Budgeted Data (per unit) : Labour 5 hours @ £15.00 Per Hour Budgeted production for August was expected to reach 10000 Units Actual production 11000 Units The actual costs incurred were as follows : Actual Data : Labour 60000 hours @ £14.50 Per Hour a. What is Labour Rate Variance? Choose one from the following: A. £30,000.00 Favourable B. £75,000.00 Unfavourable C. £45,000.00 Favourable D. £45,000.00 Unfavourable
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