1. November sales-price variance 2. November sales-volume variance
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- Pokeman Bunch Inc., manufactures Poke Monster figures and has the following data from its operation for the year just completed. Actual A FlexibleBudget B MasterBudget Units 1,500 1,200 Sales (dollars) $ 93,000 C $ 18,000 F Variable cost E $ 60,000 Contribution Margin $ 1,500 U D Fixed cost F $ 5,000 Operating income $ 7,500 The sales volume variance in terms of operating income (to the nearest dollar) is:Larry's Woodworks has collected the following data for its cutting board line of products: K Direct materials standard Direct materials standard cost Actual Direct Materials Used (AQU) Actual finished goods purchased What is the direct materials quantity variance? 10 pounds per unit $0.54 per pound 40,000 pounds 4,100 units OA. $17,860 unfavorable OB. $17,860 favorable OC. $540 unfavorable OD. $540 favorableAlpine Productions uses a standard cost system for recording transactions. Alpine reported the following data for the year ended December 31:Sales revenues: $800,000Cost of goods sold (standard costing): $382,000Selling & administrative expenses: $105,000Variances: Sales revenue variance $4100 F Direct materials cost variance 30 U Direct materials efficiency variance 300 F Direct labor cost variance 65 U Direct labor efficiency variance 10 F Variable overhead cost variance 300 U Variable overhead efficiency variance 80 F Fixed overhead cost variance 430 U Fixed overhead volume variance 100 F What is the net operating income on a standard cost income statement? Group of answer choices $312,665 $421,765 $316,765 $313,000
- Harbor Images has collected the following cost data for various levels of activity: Images Created Total Cost $5,700 $6,320 $9,210 $5,250 Month 6,000 7,750 8,100 4,500 August September October November a. Using the high-low method, determine the variable cost per image created and the total fixed cost. (Round your variable cost to 2 decimal places.) Variable Cost Per Image Fixed Cost Per Month b. Estimate the total costs when 6,500 images are created. (Do not round your intermediate calculations.) Total CostsConsider the following data collected for Cari's Rentals: Direct Materials Direct Manufacturing LaborCost incurred:Actual inputs x Actual prices $210,000 $95,000Actual inputs x standard prices 214,000 88,000Standard inputs allowed for actual output x standard prices 220,000 85,000Required Compute the price and efficiency variances for direct materials: a. Price $10000 U; Efficiency $4000 F b. Price $4000 F; Efficiency $6000 F c. Price $4000 F; Efficiency $10000 U d. Price $5000 F; Efficiency $5000 F Sales $50,000; Variable cost $30,000; Net profit $6,000; fixed cost is_____. a. $10,000. b. $l4,000 . c. $12,000. d. 8,000. Jackie's Supplies applies manufacturing overhead costs to products at a budgeted indirect-cost rate of$60 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special order of the Toy product. Estimates for this order include: Direct materials $40,000; 500 direct manufacturing labor-hours at $20 per hour; and a 20%…Maps omework i News A company reports the following for one of its products. Direct materials standard (4 pounds @ $2 per pound) Actual direct materials used (AQ) Actual units produced Actual cost of direct materials used AQ = Actual Quantity SQ = Standard Quantity F1 2 Translate M SmartBook 2.0 M SmartBook 2.0 W AP Actual Price SP Standard Price Compute the direct materials price and quantity variances and identify each as favorable or unfavorable. Actual Cost X X F2 # 3 E 80 F3 $ 4 R a F4 % 5 F5 T 0 X X < Prev Muslimin ‹6 A $ 525,000 Saved $ 8 per unit 300,000 pounds 61,000 units F6 C 2 of 7 Y & 7 www K F7 U Next * 8 DII F8 Standard Cost X X ( 9 DD F9 0 ) A F10 D
- Kirchoff, Inc., manufactures a product with the following costs: Direct materials Per Unit Per Year P18.00 Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable SG&A expenses P11.90 P2.10 P1,422,000 P3.60 Fixed SG&A expenses The pricing calculations are based on budgeted production and sales P1,540,500Brier Company, manufacturer of car seat covers, provided the following standard costs forits product: Standard Standard Cost Standard CostInputs Quantity ($) per Unit ($)Direct materials 7.1 pounds 5 per pound 35.50Direct labour 0.8 hours 17 per hour 13.60Variable overheads 0.8 hours 7 per hour 5.60The company reported the following in 2022 May:Original budgeted output 4 700 unitsActual output 4 500 unitsActual direct labour hours 3 610 hoursActual cost of direct labour $65 341Purchases of raw materials 36 500 poundsActual price paid for raw materials $186 150Raw materials used 34 150 poundsActual variable overhead cost $24 909Variable overhead is applied on the basis of direct labour…Brier Company, manufacturer of car seat covers, provided the following standard costs forits product: Standard Standard Cost Standard CostInputs Quantity ($) per Unit ($)Direct materials 7.1 pounds 5 per pound 35.50Direct labour 0.8 hours 17 per hour 13.60Variable overheads 0.8 hours 7 per hour 5.60The company reported the following in 2022 May:Original budgeted output 4 700 unitsActual output 4 500 unitsActual direct labour hours 3 610 hoursActual cost of direct labour $65 341Purchases of raw materials 36 500 poundsActual price paid for raw materials $186 150Raw materials used 34 150 poundsActual variable overhead cost $24 909Variable overhead is applied on the basis of direct labour…
- Brier Company, manufacturer of car seat covers, provided the following standard costs forits product:Standard Standard Cost Standard CostInputs Quantity ($) per Unit ($)Direct materials 7.1 pounds 5 per pound 35.50Direct labour 0.8 hours 17 per hour 13.60Variable overheads 0.8 hours 7 per hour 5.60The company reported the following in 2022 May:Original budgeted output 4 700 unitsActual output 4 500 unitsActual direct labour hours 3 610 hoursActual cost of direct labour $65 341Purchases of raw materials 36 500 poundsActual price paid for raw materials $186 150Raw materials used 34 150 poundsActual variable overhead cost $24 909Variable overhead is applied on the basis of direct labour hours. A. Compute the following:i. Direct materials quantity variance ii. Direct materials price variance iii. Direct materials total varianceiv. Direct labour efficiency variance v. Direct labour rate variance vi. Direct labour total variance vii. Variable overhead efficiency variance viii. Variable…BOTE Inc. produces sustainable plastic bottles, The following tables show the detailed production budgets, volumes, costs, ABC cost drivers and the traditional volume-based costing (VBC) overhead allocation based on direct labor hours (overhead rate base). Production Data for the Year Plastic bottle Selling price 6.00 Budget units of production 20,000 Material cost per unit P 0.50 Direct labor hours per unit 0.05 Direct labor cost per hour P 5.00 quality inspections per unit 0.025 Machine hours per unit 0.3 Moves required per unit 4 Activity Conversion Costs for 20,000 units (Budgeted Overhead Cost) Indirect Cost Components Costs (Php) Cost Driver Total Depreciation on machinery 75,000 Machine hours 4,010 Quality and finishing 24,000 No of quality inspections 6,000 Material handling 30,000 No. of moves 63,848 Total Indirect Cost 129,000 The budgeted direct…Consider the following data collected for Albo's Rentals: Direct Materials Direct Manufacturing Labor Cost incurred: Actual inputs x Actual prices $210,000 $95,000 Actual inputs x standard prices 214,000 88,000 Standard inputs allowed for actual output x standard prices 220,000 85,000 Required: Compute the price and efficiency variances for direct manufacturing labor: a. Price $7000 F; Efficiency $3000 U b. Price $7000 U; Efficiency $3000 U c. Price $5000 U; Efficiency $5000 U d. Price $7000 U; Efficiency $3000 F
