Wesley Company makes bowling balls and uses the total cost method in setting product prices. Its costs for producing 10,000 bowling balls follow. The company targets a 12.5% markup on total cost. Total cost per unit if 10,000 bowling balls are produced 15 Direct materials Direct labor Overhead Selling, general, and administrative Multiple Choice O O O $113 $113 $83. $123. Variable Costs per Unit $158 Fixed Costs (total) $ 69 Overhead 14.40 Selling, general, and administrative 29 4.40 D $ 216,000 196,000

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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.