If production was budgeted at 400 units and the actual production was 420 units, what would be the static budget variance for materials if the actual cost of materials was $4,150 and the budgeted cost per unit is $10?
a.$150 U
b.$100 F
c.$200 U
d.$50 F
Static budget variance = static budget cost-flexible budget cost
= 4000-4200
Static budget variance = 200 U
If production was budgeted at 400 units and the actual production was 420 units, what would...
14 LiyanCompany budgeted to produce 3,300 units but actual production is 3,900 units. Budgeted usage of material is 1 yard at $84per yard but the actual cost turned out to be $80 per yard. Total yards used for production were 3,960. What is the total materials variance? ed out of n Select one: O a. $900 U O b. $48,600 U O c. $4,860 U O d. $10,800 F
The following data are given for Stringer Company: Budgeted production 909 units Actual production 1,036 units Materials: Standard price per ounce $1.82 Standard ounces per completed unit 12 Actual ounces purchased and used in production 12,805 Actual price paid for materials $26,250 Labor: Standard hourly labor rate $14.95 per hour Standard hours allowed per completed unit 4.4 Actual labor hours worked 5,335.4 Actual total labor costs $81,365 Overhead: Actual and budgeted fixed overhead $1,110,000 Standard variable overhead rate $28.00 per...
In early 2017, Coppelli Inc. had budgeted for the production and sale of 22 000 units. The standard sales price and variable cost per unit were budgeted to be $8.00 and $4.00, respectively. Actual sales for 2017 totalled 67 500 units, and the actual sales price and variable cost per unit were $8.60 and $4.30, respectively. Both budgeted and actual fixed costs were $50 000. What was Coppelli’s sales price variance for 2017? $11 000 U $40 500 F $40...
The following data are given for Harry Company: Budgeted production 1,054 units Actual production 937 units Materials: Standard price per ounce $1.919 Standard ounces per completed unit 11 Actual ounces purchased and used in production 10,616 Actual price paid for materials $21,763 Labor: Standard hourly labor rate $14.76 per hour Standard hours allowed per completed unit 4.3 Actual labor hours worked 4,826 Actual total labor costs $78,423 Overhead: Actual and budgeted fixed overhead $1,025,000 Standard variable overhead rate $24.00 per...
The following data is given for the Bahia Company: Budgeted production 1,040 units Actual production 906 units Materials: Standard price per pound $1.866 Standard pounds per completed unit 11 Actual pounds purchased and used in production 9,667 Actual price paid for materials $19,817 Labor: Standard hourly labor rate $14.62 per hour Standard hours allowed per completed unit 4.0 Actual labor hours worked 4,665.9 Actual total labor costs $71,155 Overhead: Actual and budgeted fixed overhead $1,181,000 Standard variable overhead rate $26.00...
Rogen uses the standard cost system. The Static original budgeted production was 5,000 units for October. The Input standards were: Std Quantity * Std Price per input =Std Cost per Output U Direct materials 1 lb./Output unit x $7/lb. = $7 per output unit Direct labor 1.6 hrs. /Output unit x $12 /hr. = $19.20 per unit Variable manufacturing (Mfg.) overhead 1.6 hrs. * $7.50 per hr = $12 per unit Fixed mfg. overhead (Budget $20,000) 1.6 hrs.. x $2.50...
Rogen uses the standard cost system. The Static original budgeted production was 5,000 units for October. The Input standards were: Std Quantity x Std Price per input =Std Cost per Output U Direct materials 1 lb./Output unit x $7/b. = $7 per output unit Direct labor 1.6 hrs. /Output unit x $12/hr. = $19.20 per unit Variable manufacturing (Mfg.) overhead 1.6 hrs. x $7.50 per hr = $12 per unit Fixed mfg. overhead (Budget $20,000) 1.6 hrs.. x $2.50 per...
OST Or smpping 22. Firebrick Company's budgeted sales were 10,000 units at $200 per unit. Actual sales were 2,250 units at $210 per unit Firebrick's sales price variance was: A) $ 34,000 (U) B) $ 22,500 (F) C) $ 90,000 (F) D) S 45,000 (F)
Comparison of Actual and Budgeted Operating Income EXHIBIT 14.1 SCHMIDT MACHINERY COMPANY Analysis of Operating Income For October 2019 (1) (2) (3) Variances Actual Operating Income Master (Static) Budget 220U Units 780 1,000 $ 160,400U 100% $639,600 100% Sales $800,000 Variable costs 99.050F 350,950 55 450.000 56 $350,000 Contribution margin $288,650 45% 44% $ 61,350U 150.000 *** 160.650 Fixed costs 25 19 10.650U $128,000 20% $ Operating income $200,000 25% 72,000U *U denotes an unfavorable effect on operating income. *F...
Acme Company’s production budget for August is 18,300 units and
includes the following component unit costs: direct materials,
$6.30; direct labor, $10.80; variable overhead, $6.50. Budgeted
fixed overhead is $40,000. Actual production in August was 19,110
units. Actual unit component costs incurred during August include
direct materials, $9.00; direct labor, $10.20; variable overhead,
$7.60. Actual fixed overhead was $42,300.
Required:
Prepare a performance report, including each cost component.
(Indicate the effect of each variance by selecting "F" for
favorable, "U"...