A project was budgeted at $1,000,000. Meanwhile, the project is executed, and the following current figures have been assessed: PV: $500,000 EV: $450, 000 AC: $550, 000 Assuming that the cost variance was caused by one-time cost drivers, which are no more effective, what estimate at completion (EAC) can you derive from these figures?

Q: otal production costs for Jordan, Inc. are budgeted at P2,300,000 and P2,800,000 for 50,000 and…

A: Solution : Let the total fixed cost for 50000 units be X Given   50000 units 60000 units…

Q: At the start of 2021, X Company developed the following budgeted total cost function: $9.46X +…

A: In a flexible budget for Total Cost, the total cost is calculated for Actual production.   In the…

Q: the DL Time Variance, given the following info: Actual Costs = 6,000 hours at $12.00 Standard…

A: Direct labor  time variance =  Standard rate per hour × (Standard  hours - Actual hours)

Q: A product is expected to take 2 hours per unit and the labour is budgeted at £9 per hour. The…

A: Here in this question, we are required to calculate the labor rate and efficiency variance. Labor…

Q: The budgeted prices for materials and direct labor per unit of finished product are $8 and $7,…

A: Particulars Static Budget Actual Cost Variance Direct Materials 59200 49900 9300(F) Direct Labor…

Q: Franklin Educational Services had budgeted its training service charge at $84 per hour. The company…

A: 1) The Sales Volume Variance =(Actual Sales x Budgeted Price)-(Budgeted Sales x Budgeted Price )…

Q: If Activity X had a budgeted cost of $164,000 and a budgeted activity consumption of 8,000…

A: Activity based costing is one of the important form of cost accounting. Under this, all type of…

Q: Use the following information to complete variance analysis for Maple Co. Budgeted Units 40,000…

A: Direct labour price variance is the difference between standard labour cost and actual labour cost…

Q: The estimate for a project cost has been determined as $10,000 with a contingency reserve of $2,000…

A: Management reserve is calculated as the percentage of the cost baseline, which is the sum of the…

Q: Western Co. has total budgeted fixed costs of $72,000. Actual production of 5,500 units resulted in…

A: Fixed overhead volume variance = (Budgeted units - Actual units) x  Fixed overhead rate  Fixed…

Q: Total production costs for Jordan, Inc. are budgeted at P2,300,000 and P2,800,000 for 50,000 and 60,…

A: Let, Variable cost per unit = a Total Fixed cost = b   So, P2,800,000 = 60000a + 1.25b P2,300,000…

Q: Thurston Company's budget allows for one pound of material to be used for each unit produced The…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: At the start of 2020 , XYZ Company Developed the following budgeted total cost function i.e $12.50X…

A: A flexible budget variance is any distinction between the results generated by a flexible budget…

Q: It is important to monitor and control project schedule and cost. Earned Value Management (EVM) is a…

A: (i)

Q: What normal capacity was used to determine the fixed overhead rate?  5,000 5,500 6,000 5,077

A: Solution:- Given,  Western Co. has total budgeted fixed costs = 72,000 Actual production of 5,500…

Q: Munoz Educational Services had budgeted its training service charge at $69 per hour. The company…

A: Formula: Sales volume variance = ( Actual sales - Budgeted sales ) x Budgeted rate

Q: Miller and Sons' static budget for 10,500 units of production includes $44,700 for direct materials,…

A:

Q: The fixed budget for 20,000 units of production shows sales of $400,000; variable costs of $80,000;…

A: Working:

Q: Formidable Company collected the following information: Standard costs per unit:   Variable…

A: The question is based on the concept of budget and the standard costing method of budget.  A budget…

Q: production level (expressed in hours): variable overhead, P150,000; fixed overhead, P240,000. If…

A: The cost incurred on the production are classified as fixed and variable cost.

Q: Lincoln Corporation used the following data to evaluate their current operating system. The company…

A: Static budget is that budget which is fixed in nature and will not be change. But if level of…

Q: Flapjack Corporation had 8,000 actual direct labor hours at an actual rate of $12.12 per hour.…

A: Determine standard hours for actual production.

Q: At the start of 2021, X Company developed the following budgeted total cost function: $9.52X +…

A: Total Cost in a flexible budget is based on the actual number of units produced.   In the given…

Q: Ichigo Company has the following information for the third quarter of 2020: Actual total overhead…

A: Ichigo company's Actual total overhead which is fixed + variable = Php374850 Budget formula =…

Q: What is the amount of the Factory OH Controllable Variance, given the following info: Actual…

A: Controllable Variance = Actual factory overhead – Standard overhead where, Standard overhead =…

Q: The following data relate to direct labor costs for the current period: Standard costs 7,300 hours…

A: Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked

Q: produces two products, A and Z. In the year ending 30 April 2020, it produced 6,000 A and 12,500 Z…

A: Calculation of variable cost allocated to A and Z Particulars   Amount Total cost   1850000…

Q: The following data have been provided by Your Corporation: Standard MH per motor 8.6 MH Standard $…

A: The spending variance is the difference between the actual data and flexible budget of the…

Q: Assume the following information for Jenkins Inc.: Total flexible budget direct materials costs:…

A: Standard rate per item = Total flexible budget direct materials costs / Standard quantity  = 5000/40…

Q: Miller and Sons' static budget for 10,100 units of production includes $38,300 for direct materials,…

A: The correct answer is Option (b).

Q: You are a project manager of a project to build machines. Your project is scheduled to last for 12…

A: Actual cost of project refers to the amount of expenses that occur while production of anything. It…

Q: he following computations are incomplete. The missing items are labeled (a) through (d).  identify…

A: Variance is the difference between standard and actual performance.

Q: The Baldwin Company, in its master budget for 2019, predicted total sales of $168,000, variable…

A: Operating income: Operating income can be defined as the income generated by a business entity…

Q: Fixed overhead is budgeted at $24,000. The company actually produced 4,500 widgets in 10,000 direct…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: The following static budget is provided: Per Unit Total $900,000 Sales Less variable costs…

A: Compute volume variance.

Q: What is the amount of the Factory OH Volume Variance, given the following info: Actual production =…

A: Factory Overhead Volume Variance = Applied Fixed Overheads - Budgeted Fixed Overheads

Q: Product N requires a standard amount of 3 labour hours per unit, at a standard rate of £9.50 per…

A: Solution Actual rare of labor = actual cost / actual hours  = 42300/ 4700 = 9.00 per hour

Q: The budgeted and actual data for direct materials and labor are as follows: Budgeted Actual DM price…

A: Material quantity variance is the difference between actual material used in production and expected…

Q: A local engineering firm is bidding on a design project for a new client. The total budgeted…

A: Given the following information: The total budgeted direct-labor costs for the firm are $600,000…

Q: During the current year, OutlyTech Corp. expected to sell 22,600 telephone switches. Fixed costs for…

A: Solution..     Selling price per unit = $3,300  Variable cost per unit = $1,440  Contribution margin…

Q: Coroid Corporation used the following data to evaluate their current operating system. The company…

A: Formula: Static budget variance of variable cots = Actual Variable costs - Budgeted Variable costs

Q: Delaware Corp. prepared a master budget that included $16,200 for direct materials, $32,400 for…

A: Direct material and direct labor conclude the prime cost. The indirect cost incurred in the…

Q: The following static budget is provided: Per unit $70 Total $1,050,000 Sales Less variable costs:…

A: Formula to determine overall volume variance.

Q: A product has budgeted production of 1,000 units and a material cost of £14,000; the standard cost…

A: Answer) Calculation of Material Price variance Material price variance = (Standard price per Kg of…

Q: Viva Products has an estimate practical capacity of 90,000 machine hours, and each unit requires two…

A: Viva Products has an estimate practical capacity of 90,000 machine hours, and each unit requires two…

Q: Millan Company provided you with the following data: Budgeted Fixed FOH costs $207,000; Actual FOH…

A: The Following Information Given: Where as; Actual Hours = 70,000 Hours Variable FOH Rate direct…

Q: The production cost for a waterproof phone case is $5 per unit and fixed costs are $27,110 per…

A: Standard cost=Variable cost per unit×Units+Fixed costs=$5×5,216+$27,110=$53,190

Q: Based on predicted production of 24,300 units, a company budgets $320,000 of fixed costs and…

A: Introduction:- A flexible budget is easy to change according to changes in sales levels. It is used…

Q: Miller and Sons' static budget for 10,300 units of production includes $36,400 for direct materials,…

A: Flexible budget = (static budget/static budget units)*flexible budget units

Q: The production cost for a waterproof phone case is $9 per unit and fixed costs are $28,000 per…

A: Standard variable cost per unit = $9 Standard fixed cost = $28,000 Units = 5800 Total standard cost…