FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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I need help solving 2 and 3 I am stuck.
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Southside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizza.
For the month of June, the company plans to make 1,000 pizzas. It has created a planning budget that includes a cost
formula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1,100 pizzas and the actual
cost of the cheese that it used during the month was $2,632.
Required:
1. What is the mozzarella cheese activity variance for June?
2. What is the mozzarella cheese spending variance for June?
3. Assume that the company establishes a price standard of $0.30 per ounce for mozzarella cheese and a quantity standar
of eight ounces of cheese per pizza. Also, assume that Southside actually used 9,400 ounces of cheese during the month
to make 1,100 pizzas.
a. What is the materials price variance for mozzarella cheese for June?
b. What is the materials quantity variance for mozzarella cheese for June?
c. What is the materials spending variance for mozzarella cheese for June?
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