- Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year: a. Direct materials price variance, direct materials quantity variance, and total variance b. Direct labor rate variance, direct labor time variance, and total variance. mter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. irect materials price variance rect materials quantity variance stal direct materials cost variance irect labor rate variance irect labor time variance tal direct labor cost variance 000 Unfavorable Unfavorable Unfavorable Unfavorable Unfavorable Unfavorable
- Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year: a. Direct materials price variance, direct materials quantity variance, and total variance b. Direct labor rate variance, direct labor time variance, and total variance. mter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. irect materials price variance rect materials quantity variance stal direct materials cost variance irect labor rate variance irect labor time variance tal direct labor cost variance 000 Unfavorable Unfavorable Unfavorable Unfavorable Unfavorable Unfavorable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please answer both subparts without handwritten thanku
![Flex Budgeting and Variance Analysis
Sharon's Delights Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available
Standard Amount Standard Amount
per Case
per Case
Light Chocolate
Dark Chocolate
COCOR
Sugar
Standard labor time
Planned production
Standard labor rate
Actual production (cases)
Cocoa
Sugar
9 lbs.
7 lbs
0.4 h
Actual Price per Pound
$5.50
0.55
Dark Chocolate
3,800 cases
$16.00 per hr
Sharon's Delights Chocolate Company does not expect there to be any beginning or ending inventaries of cocoa e
results:
Dark Chocolate
3,600
60
0.5h
Light Chocolate
13,300 cases
$16.00 per h
Light Chocolate
13,800
115,800
172,600
Actual Quantity Purchased and Used
Standard Price
per Pound
$5.40
0.60
of the budget year, Sharon's Delights Chocolate Company had the following actual](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb761add8-5aee-4388-a5b1-0dcb3c343b9b%2F044302ad-0fa8-46d0-b97d-54f698d6bd0c%2Fwe79txen_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Flex Budgeting and Variance Analysis
Sharon's Delights Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available
Standard Amount Standard Amount
per Case
per Case
Light Chocolate
Dark Chocolate
COCOR
Sugar
Standard labor time
Planned production
Standard labor rate
Actual production (cases)
Cocoa
Sugar
9 lbs.
7 lbs
0.4 h
Actual Price per Pound
$5.50
0.55
Dark Chocolate
3,800 cases
$16.00 per hr
Sharon's Delights Chocolate Company does not expect there to be any beginning or ending inventaries of cocoa e
results:
Dark Chocolate
3,600
60
0.5h
Light Chocolate
13,300 cases
$16.00 per h
Light Chocolate
13,800
115,800
172,600
Actual Quantity Purchased and Used
Standard Price
per Pound
$5.40
0.60
of the budget year, Sharon's Delights Chocolate Company had the following actual
![Cocoa
Sugar
Actual Price per Pound Actual Quantity Purchased and Used
$5.50
0.55
a.
Actual Labor Rate
$15.50 per hr.
16.50 per hr.
Dark chocolate
Light chocolate
Required:
1. Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year:
a. Direct materials price variance, direct materials quantity variance, and total variance.
b. Direct labor rate variance, direct labor time variance, and total variance.
Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Direct materials price variance
Direct materials quantity variance
Total direct materials cost variance
b.
115,800
172,600
Direct labor rate variance
Direct labor time variance
Total direct labor cost variance
Actual Labor Hours Used
1,310
7,070
Unfavorable
Unfavorable
Unfavorable
Unfavorable
Unfavorable
Unfavorable](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb761add8-5aee-4388-a5b1-0dcb3c343b9b%2F044302ad-0fa8-46d0-b97d-54f698d6bd0c%2Fi48zcg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Cocoa
Sugar
Actual Price per Pound Actual Quantity Purchased and Used
$5.50
0.55
a.
Actual Labor Rate
$15.50 per hr.
16.50 per hr.
Dark chocolate
Light chocolate
Required:
1. Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year:
a. Direct materials price variance, direct materials quantity variance, and total variance.
b. Direct labor rate variance, direct labor time variance, and total variance.
Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Direct materials price variance
Direct materials quantity variance
Total direct materials cost variance
b.
115,800
172,600
Direct labor rate variance
Direct labor time variance
Total direct labor cost variance
Actual Labor Hours Used
1,310
7,070
Unfavorable
Unfavorable
Unfavorable
Unfavorable
Unfavorable
Unfavorable
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