The following direct materials variance computations are incomplete Price variance (37-54)×10 800 kg Efficiency variance (?-10 200 kg)x54 = $5.400 U = 30 Flexible budget variance 5? Requirement 1. Fill in the missing values and identify the flexible budget variance as favourable or unfavourabl in the first computation the missing value is the (Enter the amount as a positive number Round your answers to the nearest whole in the second computation the first missing value is the MS F
The following direct materials variance computations are incomplete Price variance (37-54)×10 800 kg Efficiency variance (?-10 200 kg)x54 = $5.400 U = 30 Flexible budget variance 5? Requirement 1. Fill in the missing values and identify the flexible budget variance as favourable or unfavourabl in the first computation the missing value is the (Enter the amount as a positive number Round your answers to the nearest whole in the second computation the first missing value is the MS F
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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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)
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