. Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year: a. Direct materials price variance, direct materials quantity variance, and total variance. b. Direct labor rate variance, direct labor time variance, and total variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance b. Direct materials quantity variance Total direct materials cost variance Direct labor rate variance Direct labor time variance 00
. Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year: a. Direct materials price variance, direct materials quantity variance, and total variance. b. Direct labor rate variance, direct labor time variance, and total variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance b. Direct materials quantity variance Total direct materials cost variance Direct labor rate variance Direct labor time variance 00
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 2PA: Flexible budgeting and variance analysis I Love My Chocolate Company makes dark chocolate and light...
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Step 1 Calculation of Standard Quantity required for Actual production (SQ)
VIEWStep 2 Basic Table for computaion of Material variances
VIEWStep 3 Calculation of Material variances
VIEWStep 4 Basic computations required for calculation of Labor variances
VIEWStep 5 Calculation of Labour variances
VIEWStep 6 Answer to Blanks given in the 2nd part of the question
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