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AFM102w2010_March05_POSTED

AFM102w2010_March05_POSTED - AFM 102 Introduction to...

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AFM 102: Introduction to Managerial Accounting March 5
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Agenda Last time: Dug into Chapter 10 Standard Costs DM Variances Today: Review DM variances DL and VMOH variance FMOH as possible See you Monday…
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Budget v. Actual Budget Actual Sales (15,000 pools) 450,000           450,000           Less Var. Exp. Var. COGS 180,000           196,226           Var. Selling 20,000            20,000            Total Var. Exp. 200,000           216,226           CM 250,000           233,774           Less Fixed Exp. Manuf. O'head 130,000           130,000           S&A 84,000            84,000            Total Fixed Exp. 214,000           214,000           OI 36,000            19,774           
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Budget Actual Var. COGS 180,000           196,226           Back to COGS Example Direct Materials Variance Inputs: Standard Price: $4.41/kg Standard Quantity: 1.36kg/pool Actual Price: $4.30/kg Actual Quantity Used: 22,288kg Quantity Purchased: 27,180kg
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Direct Material Price Variance Purchased 27,180 kg at $4.30/kg Standard price is $4.41/kg Actual Quantity @ Actual Price Actual Quantity @ Standard Price
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