S9 - 7-30(30 min.)Flexible budget, direct materials and...

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Unformatted text preview: 7-30(30 min.)Flexible budget, direct materials and direct manufacturing labor variances.1.Variance Analysis for Tuscany Statuary for 2011ActualResults(1)FlexibleBudgetVariances(2) = (1) – (3)FlexibleBudget(3)SalesVolumeVariances(4) = (3) – (5)StaticBudget(5)Units sold5,500a5,500500U 6,000aDirect materials$ 668,800$ 8,800 U$ 660,000b$ 60,000 F $ 720,000cDirect manufacturing labor 952,750a9,750 F962,500d87,500 F1,050,000eFixed costs1,180,000a20,000F 1,200,000a1,200,000aTotal costs$2,801,550$20,950F $2,822,500$147,500F$2,970,000$20,950 F$147,500 FFlexible-budget varianceSales-volume variance$168,450 FStatic-budget variancea Givenb $120/unit × 5,500 units = $660,000c $120/unit × 6,000 units = $720,000d $175/unit × 5,500 units = $962,500e $175/unit × 6,000 units = $1,050,0002.Actual Incurred(Actual InputQuantity×Actual Price)Actual InputQuantity×Budgeted PriceFlexible Budget(Budgeted InputQuantity Allowed forActual Output ×Budgeted Price)Direct materials$668,800a$704,000b$660,000...
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This note was uploaded on 02/16/2012 for the course ACCOUNTING 331 taught by Professor Hubert during the Spring '12 term at Drexel.

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S9 - 7-30(30 min.)Flexible budget, direct materials and...

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