Calculate the value of A.Enter Favourable variances as a positive number and Unfavourable variances as a negative number.12 Units34 Less: Total Variable Costs5 Direct MaterialsRevenues6 Direct Labour7 Variable Manuf. OH.8 Total Variable Costs9 Total Contribution Margin10 Total Fixed Costs11 Operating Income$BStatic120,000CActual$DFlex Budget80,000EFlex Budget Variance$70,000 F$20,000 U$20,000 U

Name: Calculate the value of A.Enter Favourable variances as a positive num
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Description: Calculate the value of A.Enter Favourable variances as a positive number and Unfavourable variances as a negative number.12 Units34 Less: Total Variable Costs5 Direct MaterialsRevenues6 Direct Labour7 Variable Manuf. OH.8 Total Variable Costs9 Total

Flexible budget is prepared for various levels within the relevant range. In Flexible budget…

Business

Accounting

Calculate the value of A. Enter Favourable variances as a positive number and Unfavourable variances as a negative number. 2 Units 3 Revenues 4 Less: Total Variable Costs 5 Direct Materials 6 Direct Labour 7 Variable Manuf. OH. 8 Total Variable Costs 9 Total Contribution Margin 10 Total Fixed Costs 11 Operating Income $ B Static 120,000 C Actual $ D Flex Budget 80,000 E Flex Budget Variance $70,000 F $20,000 U $20,000 U A

Calculate the value of A. Enter Favourable variances as a positive number and Unfavourable variances as a negative number. 2 Units 3 Revenues 4 Less: Total Variable Costs 5 Direct Materials 6 Direct Labour 7 Variable Manuf. OH. 8 Total Variable Costs 9 Total Contribution Margin 10 Total Fixed Costs 11 Operating Income $ B Static 120,000 C Actual $ D Flex Budget 80,000 E Flex Budget Variance $70,000 F $20,000 U $20,000 U A

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Answer the following question: Explain how to decide whether it is F (favorable) and U (Unfavorable) and show the numbers for example ( number > number which makes it favorable). Do not give answer in image
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Required: 1. Total materials cost variance2. Materials price variance
Find material price variance
This is the length of time it takes to initiate and complete a finished product. O a. Fiscal year O b. Accounting year c. Production cycle Od. Short-term QUESTION 21 Costs that remain constant even with changes in production level. O a. Variable costs O b. Start-up costs O c. Semi-variable costs O d. Fixed costs QUESTION 22 The challenge of budgeting is to determine what will change and what will stay the same. O True False QUESTION 23 The numbers on tax returns (cash basis) are the same as the number we use to manage a department (accrual basis). O True O False QUESTION 24 A pattern of change over several time periods which can help us make estimates for the future is a. a gap. Ob. a fixed cost. Oc. a transformation. d. a trend.
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Fix the red
Material Material Actual Standard Actual Standard Price Usage Total Supplier Price Price Quantity Quantity Var Var Variance Current $7.50 $7.50 25,000 24,240 $0 Alternative #1 $7.35 $7.50 25,500 24,240 $0 Alternative #2 $7.58 $7.50 24,400 24,240 $0 Standard Quantity is 2.02 components Quantity produced is 12,000 You are a plant manager and have been approached by your purchasing manager about swapping out one of your suppliers. The manager has identified a vendor who will supply a key component at a 2% discount to your current supplier. At the same time, the supervisor of the group approaches you to indicate that the current supplier is not consistently meeting tolerances. The supervisor suggests a second vendor who promises better quality. You decide to run three batches, each with a different component. Results are in the table above. Task 1 Calculate the Material Price Variance for each component. Task 2 Calculate the Material Usage Variance for each component. Task 3 Based on the…
What is the DM Quantity Variance, given the following info: Actual Costs = 4,600 lbs. at $5.50 Standard Costs = 4,500 lbs. at $6.00 Group of answer choices $600.00 favorable $550.00 favorable $600.00 unfavorable $550.00 unfavorable
Prepare a flexible budget management report indicating the activity variance and revenue and spending variance using the given information. You may use the formula in excel file practice set.
Payable is a batch level activities Static Budget 1000000 S $2,90 $100000 Activities Number of deliveries Batch size interm of deliveries Variable cost per batch Fixed O.H cost 1. Flexible Budget variance 2. Spending variance for var. 3. Efficiency variance for var. 4. Spending fixed cost variance. 5.Production volume Actual 948000 4,466 2,80 $90000
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