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Calculate the following flexible budget amounts 1.Perkins Company provides the following data developed for its master Sales price…………………….. $11.00 per unit Costs: Direct materials………………………… $3.00 per unit Direct labor………………………. $ 4.25 per unit Variable overhead…â₠...

Other / Other 12 Apr 2016

How are favorable variances 1.How are unfavorable variances recorded? How are favorable variances recorded? 2.Abrams, Inc., provides the following results of March's Direct materials price variance………… $ 400F Direct materials quantity variance……… 2,000U Direct labor rate variance………… 100U Direct labor efficiency variance……… 1,200F Variable overhead ...

Other / Other 12 Apr 2016

Calculate the variable overhead spending and efficiency variance 1.Cheshire, Inc. allocates fixed overhead at a rate of $18 per direct labor hour. This amount is based on 90% of capacity or 3,600 direct labor hours for 6,000 units. During May, Cheshire produced 5,500 units. Budgeted fixed overhead is $66,000, and overhead incurred was $67,000. Required: Determine the volume variance for May. 2.Prichard Company has developed t ...

Other / Other 12 Apr 2016

DT Co. produces picture frames 1.DT Co. produces picture frames. It takes 3 hours of direct labor to produce a frame. DT's standard labor cost is $11.00 per hour. During March, DT produced 4,000 frames and used 12,400 hours at a total cost of $133,920. What is DT's labor rate variance for March? 2.In producing 700 units of Product CBA last period, Cobalt Company used 5,000 pounds of Material H, costing $34,250. The company has estab ...

Other / Other 12 Apr 2016

Identify the four steps in the budgetary 1.Identify the four steps in the budgetary control process. 2.Flexible budgets may be prepared before or after an actual period of activity. Why would management prepare such budgets at differing time frames? Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help ...

Other / Other 12 Apr 2016

Compute the direct materials price 1.The following information comes from the records of Dina Co. for the current period. a. Compute the direct materials price and quantity variances, direct labor rate and efficiency variances Actual costs and quantities: Direct materials used…..………………………. 38,000 feet @$6.20 per foot Direct labor hours used…………à ...

Other / Other 12 Apr 2016

The difference between the actual overhead cost incurred 1.The difference between the actual sales and the flexible budget sales is called the ______________________ variance. ________________________________________ 2.The difference between the flexible budget sales and the fixed budget sales is called the __________________________ variance. ________________________________________ 3.In preparing flexible budgets, the costs that r ...

Other / Other 12 Apr 2016

A management process to focus on significant variances 1.Presented below are terms preceded by letters a through j and followed by a list of definitions 1 through 10. Enter the letter of the term with the definition, using the space preceding the definition. 1. Volume variance The difference between the total budgeted overhead cost and the overhead cost that was allocated to products using the predetermined fixed overhead rate. _ ...

Other / Other 12 Apr 2016

Whistler Company determined that in the production of their products 1.What are sales variances? How are they used? 2.Whistler Company determined that in the production of their products last period; they had a favorable price variance and an unfavorable quantity variance for direct materials. What might be the cause of this pattern of variances? Business Management Assignment Help, Business Management Homework help, Business Manage ...

Other / Other 12 Apr 2016

Prepare a flexible budget for Big Bend Co. that shows a detailed budget 1.Big Bend Co. fixed budget for the year is shown Sales (50,000 units)………………………. $1,300,000 Cost of goods sold: Direct materials…………………………… $150,000 Direct labor……………………………â₠...

Other / Other 12 Apr 2016