Which of the following variances would not be investigated by a manager following the management by exception principle? OA 10% unfavorable variance in payroll tax expense OA 10% favorable variance in raw materials price OA 10% unfavorable variance in direct labor rates O An unfavorable variance that has increased by 5% in each of the last five months

Which of the following variances would not be investigated by a manager following the management by exception principle? OA 10% unfavorable variance in payroll tax expense OA 10% favorable variance in raw materials price OA 10% unfavorable variance in direct labor rates O An unfavorable variance that has increased by 5% in each of the last five months

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Description: Which of the following variances would not be investigated by a manager following the management by exception principle?OA 10% unfavorable variance in payroll tax expenseOA 10% favorable variance in raw materials priceA 10% unfavorable variance in d

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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Aaha Inc. produces premium protective automotive covers. The direct materials and direct labour standards for one car cover are as follows: Standard Quantity or Hours Direct materials Direct labour 7.00 metres of cloth 0.30 hours Standard Price or Rate $8 per metre $ 16 per hour Standard Cost $56.00 $4.80 In September, the following activity was recorded: 17,500 metres of cloth were purchased at a cost of $7.50 per metre All of the purchased material was used to produce 2,500 car covers. 520 direct labour-hours were recorded at a total labour cost of $8,320. Required: 1. Compute all direct materials variances for September (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (ie., zero variance).) Answer is complete and correct. Direct materials price variance Direct materials quantity variance Total direct material cost variance $ 8,750 F $ $ 8,750 ( 0 None F 000
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