Which of the following would lead to a favourable variance? Question 16 options: Costs budgeted at $10,000; actuals coming in at $19,000 Sales budgeted at $11,000; actuals coming in at $12,000 Units produced budgeted at 10,000; actuals coming in at 9,500 Units produced budgeted at 10,000; actuals coming in at 10,000

Which of the following would lead to a favourable variance? Question 16 options: Costs budgeted at $10,000; actuals coming in at $19,000 Sales budgeted at $11,000; actuals coming in at $12,000 Units produced budgeted at 10,000; actuals coming in at 9,500 Units produced budgeted at 10,000; actuals coming in at 10,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter9: Profit Planning And Flexible Budgets

Section: Chapter Questions

Problem 20MCQ: A firm comparing the actual variable costs of producing 10,000 units with the total variable costs...

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A firm comparing the actual variable costs of producing 10,000 units with the total variable costs of a static budget based on 9,000 units would probably see a. no variances. b. small favorable variances. c. large unfavorable variances. d. large favorable variances. e. small unfavorable variances.
please help, project management, I need part E and 2 please help, project management 1) Given the following information for a one-year project, answer the following questions. Recall that PV is the planned value, EV is the earned value, AC is the actual cost, and BAC is the budget at completion. PV=$22,000 EV=$20,000 AC=$25,000 BAC=$120,000 a) What is the cost variance, schedule variance, cost performance index (CPI), and schedule performance index (SPI) for the project? Show your calculations. b) How is the project doing? Is it ahead of schedule or behind schedule? Is it under budget or over budget? Explain. c) Use the CPI to calculate the estimate at completion (EAC) for this project. Is the project performing better or worse than planned? Explain. d) Use the SPI to estimate how long it will take to finish this project. e) Sketch the earned value chart for this project. 2) Write a one-page summary explaining how is project cost management different when using an Agile approach?…
Can you help me interpret these results i)Revenue Variance, Price, and Volume Variance Revenue variance = Actual revenues – Static revenues = $2,200,000 - $1,9800,000 = $220,000 Price variance = Actual revenues – Flexible revenues =$2,2000,000 - $2,200,000 =$0 Volume variance = Flexible revenues – Static revenues =$2,200,000 - $1,980,000 = $220,000 ii) Cost Variance, Volume Variance and Management Variance Cost variance = Static cost - Actual cost =$1,350,000 -$1,625,000 = $-275,000 Volume = Static cost – Flexible costs = $1,350,000 - =$1,475,000 = $-125,000 Management variance = Flexible cost- Actual cost =$2,200,000 - 1,625,000 =$575,000 iii) Profit Variance Profit Variance= Actual Profit - Static Profit = 225,000 - 130,000 = 95,000 Revenue Variance = Actual Revenue - Static Revenue = 2, 200,000 - 1,980,000 = 220,000 Cost Variance = Static Cost - Actual Costs = 1,850,000 - 1,975,000 = (125,000) Can you help me interpret these results
Budgeted sales OMR 60000; Actual sales OMR 75000; then the variance will be: O a. OMR 15000 Unfavorable of O b. OMR 15000 Favorable O C. Some other answer O d. OMR 60000 Favorable page
Determine the flexible budget variance if the sales volume variance is $134,000 F and static - budget variance is $123,000 F. Indicate whether the variance is favourable or unfavourable. Do not enter dollar signs or commas in the input boxes. Enter the variance amount as a positive value.
K The following direct materials variance computations are incomplete = $5.400 U Price variance Efficiency variance = ?U Flexible budget variance 5? (52-54)×10 800 kg (?-10 200 kg)x54 Requirement 1. Fill in the missing values and identify the flexible budget variance as favourable or unfavourable in the first computation the missing value is the (Enter the amount as a positive number. Round your answers to the nearest whole number) In the second computation the first missing value is the The flexible budget variance is This variance is ats (Round your answer to the nearest cent) Ap The second missing value is the ▼ats F (Enter the amount as a positive nember. Round your answers to the nearest whole number) Time Remaining:02:51:45 Next
What is the DM Price 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 $1,700.00 unfavorable $2,250.00 favorable $2,300.00 favorable $2,250.00 unfavorable
I need help with problems 1 a-b, and 2-a-c. Part of 1 b is cut off, to clarify it says that I need to solve for the "price variance" and the "spending variance." Thanks for the help in advance!
Which of the following statements is true? Multiple Choice The spending variance for a fixed expense will equal zero when the planned level of activity equals the actual level of activity. The spending variance for a fixed expense will be favorable if the amount of the expense contained in the flexible budget is greater than the actual amount of the expense. The spending variance for a fixed expense will be favorable if the amount of the expense contained in the flexible budget is less than the actual amount of the expense. The spending variance for a fixed expense can be favorable or unfavorable depending on whether the actual expense is greater than or less than the planned expense.
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
10. Which of the following could cause a variable overhead flexible budget variance? A) Variable overhead costs being greater than expected for the given driver usage B) Variable overhead costs being less than expected for the given driver usage C) Driver usage being greater than expected for the given level of production D) Driver usage being less than expected for the given level of production E) All of the above E) A alan E)
Dasance, make sure to enter u in the appropriate neid. it ine variance is zero, do not select a saber. Hound your answers to the nearest whole odiar.) Actual Flexible-Budget Flexible Sales-Volume Results Variance Budget Variance Units sold Revenues (sales) Variable costs Contribution margin Fixed costs $ 103,000 695,250 $ 430,000 $ 345,050 F S 198,250 U 103.000 350,200 $ 231,750 265,250 246,750 18,500 $ 14,950 13,000 F 44,200 F $ 29,250 U 14,950 F 0 14,950 146,800 F 161,750 U U Operating income Calculate the total static-budget variance to verify your work is accurate. Determine the labels and then enter the amounts to calculate the static-budget variance. (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Abbreviation used: CM = contribution margin.) 118,450 85,000 33,450 $ Static Budget F 90,000 306,000 202,500 Total static-budget variance 103,500 85,000 18,500