RequiredIndicate whether each of the following varlances Is favorable (F) or unfavorable (U). The first one has been done as anexample. (Select "None" If there Is no effect (I.e., zero varlance).)Item to ClassifyStandardActualType of VarianceSales volume42,400 units44,300 unitsFSales price3.67 per unit3.64 per unitMaterials cost3.40 per pound3.30 per poundMaterials usage90,400 pounds91.400 poundsLabor cost10.00 per hour10.40 per hourLabor usage62,200 hours61,400 hoursFixed cost spending$ 479,120$ 485,150Fixed cost per unit (volume)11.30 per unit10.50 per unit

Standard is the normal or routine price set for a component. While Actual is the actual price or…

qulred sicate whether each of the following variances Is favorable (F) or unfavorable (U). The first one has been done ample. (Select "None" If there Is no effect (I.e., zero varlance).) Item to Classify Standard Actual Type of Variance ales volume 42,400 units 44,300 units F ales price 3.67 per unit 3.64 per unit aterials cost 3.40 per pound 3.30 per pound aterials usage 90,400 pounds 91,400 pounds abor cost 10.00 per hour 10.40 per hour abor usage 62,200 hours 61.400 hours xed cost spending $ 479,120 $ 465,150 xed cost per unit (volume) 11.30 per unit 10.50 per unit

qulred sicate whether each of the following variances Is favorable (F) or unfavorable (U). The first one has been done ample. (Select "None" If there Is no effect (I.e., zero varlance).) Item to Classify Standard Actual Type of Variance ales volume 42,400 units 44,300 units F ales price 3.67 per unit 3.64 per unit aterials cost 3.40 per pound 3.30 per pound aterials usage 90,400 pounds 91,400 pounds abor cost 10.00 per hour 10.40 per hour abor usage 62,200 hours 61.400 hours xed cost spending $ 479,120 $ 465,150 xed cost per unit (volume) 11.30 per unit 10.50 per unit

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 5MC: This variance is the difference involving spending less, or using less than the standard amount. A....

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