Homework Answers
Answers :
- Option : 1) The Total budgeted Variance
- Option :3)(Actual Hours*Standard Rate )-(Standard Hours* Standard Rate)
The difference between the actual total Cost of input and the Budgetd cost is known as the Total budgeted variance , IF the Total budget cost is more than the actual cost , Favourable variance , Vice-versa.
Labour Efficiency Variance =
( AH-SH) * Standard rate
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The difference between actual quantity of input used and the standard quantity of input used results in a Multiple Choice Controllable variance Standard variance o O Budget variance Quantity variance
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,100 units 4.00 pounds @ $1.60 per pound 2.10 hours @ $5.00 per hour $ 18,450 4,500 units 3.60 pounds @ $2.00...
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