I need help solving 2 and 3 I am stuck. Check my workSouthside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizza.For the month of June, the company plans to make 1,000 pizzas. It has created a planning budget that includes a costformula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1,100 pizzas and the actualcost of the cheese that it used during the month was $2,632.Required:1. What is the mozzarella cheese activity variance for June?2. What is the mozzarella cheese spending variance for June?3. Assume that the company establishes a price standard of $0.30 per ounce for mozzarella cheese and a quantity standarof eight ounces of cheese per pizza. Also, assume that Southside actually used 9,400 ounces of cheese during the monthto make 1,100 pizzas.a. What is the materials price variance for mozzarella cheese for June?b. What is the materials quantity variance for mozzarella cheese for June?c. What is the materials spending variance for mozzarella cheese for June?Complete this question by entering your answers in the tabs below.< Prev1 of 4Next >.... ....Y

Solution:- 1)Calculation of the mozzarella cheese activity variance for June as follows under:-

Answered: I need help solving 2 and 3 I am stuck.

Business

Accounting

I need help solving 2 and 3 I am stuck.

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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Question

I need help solving 2 and 3 I am stuck.

Check my work
Southside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizza.
For the month of June, the company plans to make 1,000 pizzas. It has created a planning budget that includes a cost
formula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1,100 pizzas and the actual
cost of the cheese that it used during the month was $2,632.
Required:
1. What is the mozzarella cheese activity variance for June?
2. What is the mozzarella cheese spending variance for June?
3. Assume that the company establishes a price standard of $0.30 per ounce for mozzarella cheese and a quantity standar
of eight ounces of cheese per pizza. Also, assume that Southside actually used 9,400 ounces of cheese during the month
to make 1,100 pizzas.
a. What is the materials price variance for mozzarella cheese for June?
b. What is the materials quantity variance for mozzarella cheese for June?
c. What is the materials spending variance for mozzarella cheese for June?
Complete this question by entering your answers in the tabs below.
< Prev
1 of 4
Next >
.... ....Y

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