7.6] Goddard Inc. planned to use $153 of material per unit but actually used $140 of material per unit and planned to make 1,100 units but actually made 940 units. The flexible-budget amount for materials is:

7.6] Goddard Inc. planned to use $153 of material per unit but actually used $140 of material per unit and planned to make 1,100 units but actually made 940 units. The flexible-budget amount for materials is:

Name: 7.6] Goddard Inc. planned to use $153 of material perunit but actuall
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Description: 7.6] Goddard Inc. planned to use $153 of material perunit but actually used $140 of material per unit andplanned to make 1,100 units but actually made 940units.The flexible-budget amount for materials is:

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 15EB: Judges Gavel uses this information when preparing their flexible budget: direct materials of $3 per...

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The standard quantity allowed for the units produced was 4,500 pounds, the standard price was P2.50 per pound, and the materials quantity variance was P375 favorable. Each unit uses 1 pound of materials. How many units were actually produced?
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A company produces widgets with budgeted standard direct materials of 2 pounds per widget at $5 per pound. Standard labor was budgeted at 0.5 hour per widget at $15 per hour. The actual usage in the current year was 25,000 pounds (at an actual cost of $4.75 per pound) and 3,000 hours (at an actual rate of $17 per hour) to produce 10,000 widgets. What was the direct labor efficiency (usage) variance?
Flapjack Corporation had 8,000 actual direct labor hours at an actual rate of $12.12 per hour. Original production had been budgeted for 1,100 units, but only 1,000 units were actually produced. Labor standards were 7.2 hours per completed unit at a standard rate of $13.00 per hour. Round your answer to the nearest cent. The direct labor time variance is a.$7,080.00 unfavorable b.$7,080.00 favorable c.$10,400.00 unfavorable d.$10,400.00 favorable