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

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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AirPro Corporation reports the following for this period. Actual total overhead $ 28,575 Standard overhead applied $ 32,860 Budgeted (flexible) variable overhead rate $ 2.10 per unit Budgeted fixed overhead $ 12,900 Predicted activity level 12,900 units Actual activity level 10,600 units
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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 $ $ $ $ 658 $ 584,000 $ 391,000 $ 279,000 $ Actual 186,000 pounds 182,000 pounds 990 units 920 units 60,800 $ 96,400 $ 26,000 $ 55,000 $ 529 608,000 364,000 286,000 59,100 97,800 31,000 44,000 Variance pounds units Effect
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