please answer both A and B Complete the following partlal flexible budget performance report, and indicate whether each varlance is favorable orunfavorable. The company budgets a selling price of $86 per unit and varlable costs of $34 per unit. (Indicate theeffect of each verlance by selecting favorable, unfavorable, or no verlance.)Flexible Budget Performance ReportFlexible Budget(12,400 units)$ ?Actual Results(12,400 units)$?VariancesFor Month Ended June 30SalesVariable costsContribution marginFixed costs$ 33,600 F367,000644, 800286, e00$ ?301,000$4?IncomeFlexible Budget Performance ReportFlexible Budget(12,400 units)Actual Results(12,400 units)VariancesFavorable/UnfavorableFor Month Ended June 30 During May the company Incurred the following actual costs to produce 8,500 units.Direct naterials (139,000 pounds e $2.8e per pound)Direct labor (30, e0e hours @ $15.10 per hour)S 389,200453,000AR - Actual RateSR = Standard RateAQ - Actual QuantitysQ - Standard QuantityAP = Actual PriceSP = Standard Price(1) Compute the direct materials price and quantity vartances.(2) Compute the direct labor rate varlance and the direct labor efficiency varianceComplete this question by entering your answers in the tabs below.Required 1Required 2Compute the direct labor rate variance and the direct labor effioency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or nvariance. Round "Rate per hour answers to 2 decimal places.)Standard CostActual Cost< Required 1

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Complete the following partial flexible budget performance report, and indicate whether each varlance is favorable or unfavorable. The company budgets a selling price of $86 per unit and varlable costs of $34 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no varlance.) Flexible Budget Performance Report Flexible Budget (12,400 units) Actual Results Variances $ 33,600 F (12,400 units) For Month Ended June 30 sales Variable costs Contribution margin 367,e00 644, 800 286, e0e Fixed costs 301,e0e Income Flexible Budget Performance Report Flexible Budget (12,400 units) Actual Results (12,400 units) Variances Favorable/Unfavorable For Month Ended June 30

Complete the following partial flexible budget performance report, and indicate whether each varlance is favorable or unfavorable. The company budgets a selling price of $86 per unit and varlable costs of $34 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no varlance.) Flexible Budget Performance Report Flexible Budget (12,400 units) Actual Results Variances $ 33,600 F (12,400 units) For Month Ended June 30 sales Variable costs Contribution margin 367,e00 644, 800 286, e0e Fixed costs 301,e0e Income Flexible Budget Performance Report Flexible Budget (12,400 units) Actual Results (12,400 units) Variances Favorable/Unfavorable For Month Ended June 30

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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