RequiredIndicate whether each of the following varlances Is favorable (F) or unfavorable (U). The first one has been done as anexample. (Select "None" If there Is no effect (I.e., zero varlance).)Item to ClassifyStandardActualType of VarianceSales volume42,400 units44,300 unitsFSales price3.67 per unit3.64 per unitMaterials cost3.40 per pound3.30 per poundMaterials usage90,400 pounds91.400 poundsLabor cost10.00 per hour10.40 per hourLabor usage62,200 hours61,400 hoursFixed cost spending$ 479,120$ 485,150Fixed cost per unit (volume)11.30 per unit10.50 per unit

Standard is the normal or routine price set for a component. While Actual is the actual price or…

qulred sicate whether each of the following variances Is favorable (F) or unfavorable (U). The first one has been done ample. (Select "None" If there Is no effect (I.e., zero varlance).) Item to Classify Standard Actual Type of Variance ales volume 42,400 units 44,300 units F ales price 3.67 per unit 3.64 per unit aterials cost 3.40 per pound 3.30 per pound aterials usage 90,400 pounds 91,400 pounds abor cost 10.00 per hour 10.40 per hour abor usage 62,200 hours 61.400 hours xed cost spending $ 479,120 $ 465,150 xed cost per unit (volume) 11.30 per unit 10.50 per unit

qulred sicate whether each of the following variances Is favorable (F) or unfavorable (U). The first one has been done ample. (Select "None" If there Is no effect (I.e., zero varlance).) Item to Classify Standard Actual Type of Variance ales volume 42,400 units 44,300 units F ales price 3.67 per unit 3.64 per unit aterials cost 3.40 per pound 3.30 per pound aterials usage 90,400 pounds 91,400 pounds abor cost 10.00 per hour 10.40 per hour abor usage 62,200 hours 61.400 hours xed cost spending $ 479,120 $ 465,150 xed cost per unit (volume) 11.30 per unit 10.50 per unit

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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K The following direct materials variance computations are incomplete = $5.400 U Price variance Efficiency variance = ?U Flexible budget variance 5? (52-54)×10 800 kg (?-10 200 kg)x54 Requirement 1. Fill in the missing values and identify the flexible budget variance as favourable or unfavourable in the first computation the missing value is the (Enter the amount as a positive number. Round your answers to the nearest whole number) In the second computation the first missing value is the The flexible budget variance is This variance is ats (Round your answer to the nearest cent) Ap The second missing value is the ▼ats F (Enter the amount as a positive nember. Round your answers to the nearest whole number) Time Remaining:02:51:45 Next
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Indicate whether each statement is true or false.1.a) DM quantity variance is favorable when the actual price is lower than the standardprice/pound. (……….)1.b) DL rate variance is unfavorable when the actual rate per hour was greater than thestandard rate per hour. (……….)
Can't figure out sales volume variance, please show work.
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