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# MAQuiz7 - ACG 2071 Quiz Name UFID Master budget data for...

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Name____________________________________ October 23, 2007 UFID#______________________________ Master budget data for the month of September for Gator, Inc. were: Sales of 10,000 units at \$100 per unit, variable costs of \$70 per unit , and total fixed costs of \$200,000. Actual result for September were: Sales of 10,800 units at \$95 per unit, variable costs of \$72 per unit, and total fixed costs of \$210,400 1. Calculate the sales-activity variance. 2. Calculate the flexible-budget variance. Manufacturing data for Gator Industries for the month of September were: Variable-overhead costs incurred \$20,000 Variable-overhead flexible-budget variance \$6,000U Variable-overhead efficiency variance \$2,000F Material purchased and used (2,600 pounds) \$25,480 Direct labor costs incurred (2,050 hours) \$38,950 Finished units produced 500 Standard direct labor cost per hour \$20 Standard material cost per pound \$10 Standard variable overhead cost per hour \$8 Standard pounds of material per finished unit 5 Standard direct labor hours per finished unit 4 3. Calculate the materials price variance. 4. Calculate the direct labor usage (quantity) variance. 5. Calculate the variable-overhead spending variance. Indicate whether each variance is favorable (F) or unfavorable (U) in your answers. Answers

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MAQuiz7 - ACG 2071 Quiz Name UFID Master budget data for...

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