4000 Favorable 2 points c Sales price variance Actual Revenue Flexible Budget

4000 favorable 2 points c sales price variance actual

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$4,000 Favorable (2 points)c.Sales price variance = Actual Revenue – Flexible Budget Revenue$38,100 - $39,000 = $900 Unfavorable. (2 points)Page 18of 19
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ACC 312 Fundamentals of Managerial AccountingMidterm Exam 2 Fall 2010 November 9, 20105.Materials price and quantity variance a.Material price variance = (Actual price – Budgeted price) x Actual quantity($2.50 - $2.55) x 650 = $32.50 F (2 points)b.Quantity variance = (Actual quantity – Budgeted quantity) x Budgeted price(650 – 300 x 2) x $2.55 = $127.50 U (2 points)Labor price and quantity variance a.Labor price variance = (Actual price – Budgeted price) x Actual quantity($21 - $20) x 500 = $500 U (2 points)b.Labor Quantity variance = (Actual quantity – Budgeted quantity) x Budgeted price(500 – 300 x 1.5) x $20 = $1,000 U (2 points)Page 19of 19
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