Wonderland Company produces jewelry. The table below shows the data for the month in production of bracelets: Direct Materials Actual price per unit of input Std price per unit of input Actual units of input Actual units of output 0.25 0.10 670,500.00 150,000.00 Direct Labor 0.45 0.50 525,800.00 150,000.00 It takes 10 units of direct materials and 4 hrs to produce 5 rings. Required: Compute for the Material Price, Efficiency and Flexible Budget Variance as well as the Labor Rate, Efficiency and Flexible Budget Variance. Please Indicate "U" for Unfavorable and "F" if Favorable.
Wonderland Company produces jewelry. The table below shows the data for the month in production of bracelets: Direct Materials Actual price per unit of input Std price per unit of input Actual units of input Actual units of output 0.25 0.10 670,500.00 150,000.00 Direct Labor 0.45 0.50 525,800.00 150,000.00 It takes 10 units of direct materials and 4 hrs to produce 5 rings. Required: Compute for the Material Price, Efficiency and Flexible Budget Variance as well as the Labor Rate, Efficiency and Flexible Budget Variance. Please Indicate "U" for Unfavorable and "F" if Favorable.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:MPV
MEV
MFBV
LRV
LEV
Actual price per unit of input
Std price per unit of input
Actual units of input
Actual units of output
Question 7
LFBV
Wonderland Company produces jewelry. The table below shows the data for the month in production of bracelets:
Direct Materials
0.25
0.10
It takes 10 units of direct materials and 4 hrs to produce 5 rings.
Required: Compute for the Material Price, Efficiency and Flexible Budget Variance as well as the Labor Rate, Efficiency and Flexible Budget Variance. Please use
Indicate "U" for Unfavorable and "F" if Favorable.
L
Amount (2 decimal places) U or F
670,500.00
150,000.00
Direct Labor
0.45
0.50
525,800.00
150,000.00
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