45. Jackie's Jewelry Company reported the following budgeted and actual results based on sales of 100 units of product: Your Actual Results $850 $450 $610 Direct Labor Direct Materials Overhead Flexible Budget $800 $400 $600 C. $150 favorable. D. $50 unfavorable. "As if" Budget $700 $450 $600 The company's total input quantity variance is: A. $50 favorable. B. $160 unfavorable. 8
45. Jackie's Jewelry Company reported the following budgeted and actual results based on sales of 100 units of product: Your Actual Results $850 $450 $610 Direct Labor Direct Materials Overhead Flexible Budget $800 $400 $600 C. $150 favorable. D. $50 unfavorable. "As if" Budget $700 $450 $600 The company's total input quantity variance is: A. $50 favorable. B. $160 unfavorable. 8
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 14CE: Refer to Cornerstone Exercise 8.13. In March, Nashler Company produced 163,200 units and had the...
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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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