d The trial balance for Marigold Corporation shows the following for its DM and DL variances at year-end, prior to closing entries.DM price varianceDM efficiency varianceDL price varianceDL efficiency variance.Debit$10,50055015,540Credit$5,770Throughout the year, actual purchase costs for DM totaled $230.550; transfers of DM cost into production totaled $233,500.The total flexible budget DL cost was $188,000 this year. Assume the company's threshold for determining the materiality of each variance is 5% of its flexible budget cost. Calculatethe significance level of each DM variance in comparison to the DM flexible budget cost. Calculate the significance level ofeach DL variance in comparison to the DL flexible budget cost. Compare each variance's significance level to the company'sthreshold of 5%. Which of these variances (if any) are concerning (i.e., material) to the company? (Round answers to 2decimal places, e.g. 15.25%.)DM price varianceDM efficiency varianceDL price varianceDL efficiency variance%%%Not Material #Not Material #Not Material #Material

Cost variance is a cost management term that refers to the difference between the budgeted cost for…

The trial balance for Marigold Corporation shows the following for its DM and DL variances at year-end, prior to closing entries. DM price variance DM efficiency variance DL price variance DL efficiency variance Debit $10,500 550 15,540 Credit $5,770

The trial balance for Marigold Corporation shows the following for its DM and DL variances at year-end, prior to closing entries. DM price variance DM efficiency variance DL price variance DL efficiency variance Debit $10,500 550 15,540 Credit $5,770

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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