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Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Average number of roses per arrangement Price per rose Cost of roses per arrangement Standard 8.20 Monique's Florals planned to make 760 arrangements but actually made 810. Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). Req A to C * $ 0.45 $3.69 c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). d. Confirm the accuracy of Requirements a, b, and c by showing that the sum of the price and usage variances equals the total variance. Req D Actual 8.50 x $0.42 $ 3.57 Complete this question by entering your answers in the tabs below. a. Total flexible budget materials variance h Total materiais pricouronn a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Do not round your intermediate calculations. Round your answers to 2 decimal places. Show less A

Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Average number of roses per arrangement Price per rose Cost of roses per arrangement Standard 8.20 Monique's Florals planned to make 760 arrangements but actually made 810. Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). Req A to C * $ 0.45 $3.69 c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). d. Confirm the accuracy of Requirements a, b, and c by showing that the sum of the price and usage variances equals the total variance. Req D Actual 8.50 x $0.42 $ 3.57 Complete this question by entering your answers in the tabs below. a. Total flexible budget materials variance h Total materiais pricouronn a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Do not round your intermediate calculations. Round your answers to 2 decimal places. Show less A

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 5PA: Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but...
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Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Average number of roses per arrangement Price per rose Cost of roses per arrangement Req A to C Standard 8.20 Monique's Florals planned to make 760 arrangements but actually made 810. Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). d. Confirm the accuracy of Requirements a, b, and c by showing that the sum of the price and usage variances equals the total variance. Reg D * $ 0.45 $ 3.69 Complete this question by entering your answers in the tabs below. a. Total flexible budget materials variance b. Total materials price variance c. Total materials usage variance Actual 8.50 x $0.42 $ 3.57 a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Do not round your intermediate calculations. Round your answers to 2 decimal places. 914 610 Req D > Prev ********** 2 of 5 Next > Show less Å
Transcribed Image Text:Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow: Average number of roses per arrangement Price per rose Cost of roses per arrangement Req A to C Standard 8.20 Monique's Florals planned to make 760 arrangements but actually made 810. Required a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). d. Confirm the accuracy of Requirements a, b, and c by showing that the sum of the price and usage variances equals the total variance. Reg D * $ 0.45 $ 3.69 Complete this question by entering your answers in the tabs below. a. Total flexible budget materials variance b. Total materials price variance c. Total materials usage variance Actual 8.50 x $0.42 $ 3.57 a. Determine the total flexible budget materials variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Do not round your intermediate calculations. Round your answers to 2 decimal places. 914 610 Req D > Prev ********** 2 of 5 Next > Show less Å
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