Required Compute variances for the following items and indicate whether each variance is favorable or unfavorable: Note: Select "None" if there is no effect (i.e., zero variance). Item Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses $ $ $ $ Budget $ $ $ $ 535 $ 620,000 $ 370,000 $ 295,000 188,000 pounds 950 units Actual 59,700 $ 99,000 $ 40,000 $ 50,000 $ 670 590,000 400,000 285,000 $ 195,000 pounds 1,050 units 62,000 97,000 32,000 64,000 Variance pounds units Effect

Required Compute variances for the following items and indicate whether each variance is favorable or unfavorable: Note: Select "None" if there is no effect (i.e., zero variance). Item Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses $ $ $ $ Budget $ $ $ $ 535 $ 620,000 $ 370,000 $ 295,000 188,000 pounds 950 units Actual 59,700 $ 99,000 $ 40,000 $ 50,000 $ 670 590,000 400,000 285,000 $ 195,000 pounds 1,050 units 62,000 97,000 32,000 64,000 Variance pounds units Effect

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter18: Pricing And Profitability Analysis

Section: Chapter Questions

Problem 32P: Sulert, Inc., produces and sells gel-filled ice packs. Sulerts performance report for April follows:...

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Given the following information, calculate the purchasing department's efficiency variance. Standard number of transaction per day Standard labor cost per day Actual number of days for processing transactions Actual number of transactions processed Actual labor cost per day Multiple choice question. $2,400 favorable $4,400 favorable $4,400 unfavorable $2,400 unfavorable 20 $200 120 1,960 $180
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Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): Note: Select "None" if there is no effect (i.e., zero variance). Item Sales price Sales revenue Budget Actual Variance Effect $ EA 528 $ 656 $ (127) F 606,000 $ 583,000 $ 22,000 U Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume $ 363,000 $ 389,500 $ (26,000) U EA 284,500 $ 278,000 $ 181,000 $ 184,500 $ 915 units 980 units Wages at 4,000 hours $ 59,000 $ 60,600 $ 6,000 F (3,000) U (60) units F (1,500) U Labor usage at $16 per hour $ 97,600 $ 96,300 $ 1,200 F Research and development expense $ 29,500 $ 25,000 $ 4,000 F Selling and administrative expenses 6999 $ 43,000 $ 53,500 $ (10,000) U
1. Prepare a Level 2 Variance Analysis and answer the following questions. Actual Results Static Budget 1,020 units 1,000 units Units Revenues Total Var Cost Total Contr Margin Fixed Cost a. b. asup C. d. e. f. 100 woll $110,160 $ 74,460 $100,000 $ 70,000 Iban Mato Xmaldor $ 19,600 Operating Income $ 16,100 $ 10,000 shot Describe precisely the meaning of the following variances from this Performance Report: Flexible Budget Variance for Revenues palodi sat osup a'lood pl BV smi vispicyng pors $ 20,000 Flexible Budget Variance for Tot Variable Cost Flexible Budget Variance for Fixed Cost Sales Volume Variance for Revenues Sales Volume Variance for Tot Variable Cost Sales Volume Variance for Fixed Cost B
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