1. Dog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.75 cup of pure semolina flour. They buy 4,000 cups of flour at $0.55 per cup. They use 3,550 cups of flour to make 4,750 biscuits. The standard cost per cup of flour is $0.53. NOTE: All dollar amounts are rounded to two decimal places and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes. What is the standard cups for actual production   ?  standard cups. (round answer to two decimal places with commas as needed) Complete the following table of variances and their conditions: Variance Variance Amount Favorable (F) or Unfavorable (U) Material Price ? ? Material Quantity ? ? Total DM Cost Variance ? ?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Dog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.75 cup of pure semolina flour. They buy 4,000 cups of flour at $0.55 per cup. They use 3,550 cups of flour to make 4,750 biscuits. The standard cost per cup of flour is $0.53.

NOTE: All dollar amounts are rounded to two decimal places and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes.

  • What is the standard cups for actual production   ?  standard cups. (round answer to two decimal places with commas as needed)
  • Complete the following table of variances and their conditions:
Variance Variance Amount Favorable (F) or Unfavorable (U)

Material Price

?

?

Material Quantity

?

?

Total DM Cost Variance

?

?

 

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