Information for garner companys direct labor costs

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Financial and Managerial Accounting Using Excel for Success
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Chapter 16 / Exercise EX 16–11
Financial and Managerial Accounting Using Excel for Success
Reeve/Warren
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6.Information for Garner Company’s direct-labor costs for the month of September 2005 was as follows:Actual direct-labor hours34,500 hoursStandard direct-labor hours35,000 hoursTotal direct-labor payroll$241,500Direct-labor efficiency variance—favorable $ 3,200[CPA Adapted] What is Garner’s direct-labor price (or rate) variance?a.$21,000 favorableb.$21,000 unfavorablec.$17,250 unfavorabled.$20,700 unfavorable
7.Performance evaluation using variance analysis should guard against
8.The basic principles and concepts of variance analysis can be applied to activity-based costing
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Financial and Managerial Accounting Using Excel for Success
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Chapter 16 / Exercise EX 16–11
Financial and Managerial Accounting Using Excel for Success
Reeve/Warren
Expert Verified
9.Benchmarking is
CHAPTER 7 QUIZ SOLUTIONS
Quiz Question Calculations
FLEXIBLE-BUDGET AND SALES-VOLUME VARIANCE ANALYSISActual Results:Flexible Budget:Static Budget:Actual Units SoldActual Units SoldBudgeted Units SoldX Actual Sales MixX Actual Sales MixX Budgeted Sales MixX Actual CM/unitX Budgeted CM/unitX Budgeted CM/unit| - - - - Flexible budget variance - - - - | - - - - Sales-volume variance - - - - || - - - - - - - - - - - - - - - - - - - Static budget variance - - - - - -- - - - - - - - - - |SALES-MIX AND SALES-QUANTITY VARIANCE ANALYSISFlexible Budget:Static Budget:Actual Units SoldActual Units SoldBudgeted Units SoldX Actual Sales MixX Budgeted Sales MixX Budgeted Sales MixX Budgeted CM/unitX Budgeted CM/unitX Budgeted CM/unit| - - - - - - Sales mix variance - - - - - | - - - - Sales-quantity variance - - - - || - - - - - - - - - - - - - - - - - - - Sales-volume variance - - - - - - - - - - - - - - - |MARKET-SHARE AND MARKET-SIZE VARIANCE ANALYSISFlexible Budget:Static Budget:Actual Market SizeActual Market SizeBudgeted Market SizeX Actual Market ShareX Budgeted Market ShareX Budgeted Market ShareX Budgeted CM/unitX Budgeted CM/unitX Budgeted CM/unit| - - - - - - Market share variance - - - - - | - - - - Market size variance - - - - || - - - - - - - - - - - - - - - - - - - Sales-quantity variance - - - - - - - - - - - - - - - |INPUT PRICE AND EFFICIENCY VARIANCESActual Costs:Flexible Budget:Actual InputActual InputBudgeted Input (for actual output)X Actual PriceX Budgeted Price

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