RequiredIndicate whether each of the following variances is favorable (F) or unfavorable (U). The first one has been done as an example. (Select"None" if there is no effect (i.e., zero variance).)Item to ClassifyStandardActualType of VarianceSales volume42,700 units44,600 unitsSales price$3.70 per unit$3.67 per unitMaterials cost2$3.70 per pound2$3.60 per poundMaterials usage90,700 pounds91,700 poundsLabor cost$10.30 per hour10.70 per hourLabor usage62,500 hours61,700 hoursFixed cost spending$ 495,320$ 459,380Fixed cost per unit (volume)11.60 per unit$10.30 per unit

Name: RequiredIndicate whether each of the following variances is favorable
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Description: RequiredIndicate whether each of the following variances is favorable (F) or unfavorable (U). The first one has been done as an example. (Select"None" if there is no effect (i.e., zero variance).)Item to ClassifyStandardActualType of VarianceSales v

A variance is said to be Favorable when the budgeted revenues are less than actual revenues and…

Business

Accounting

Indicate whether each of the following variances is favorable (F) or unfavorable (U). The "None" if there is no effect (i.e., zero variance).) Item to Classify Standard Actual Type of Variance F 42,700 units 3.70 per unit 3.70 per pound $ 90,700 pounds 10.30 per hour 62,500 hours $ 495,320 44,600 units 3.67 per unit 3.60 per pound 91,700 pounds $ 10.70 per hour 61,700 hours $ 459,380 10.30 per unit Sales volume Sales price Materials cost $ $ Materials usage Labor cost Labor usage $ Fixed cost spending Fixed cost per unit (volume) 11.60 per unit

Indicate whether each of the following variances is favorable (F) or unfavorable (U). The "None" if there is no effect (i.e., zero variance).) Item to Classify Standard Actual Type of Variance F 42,700 units 3.70 per unit 3.70 per pound $ 90,700 pounds 10.30 per hour 62,500 hours $ 495,320 44,600 units 3.67 per unit 3.60 per pound 91,700 pounds $ 10.70 per hour 61,700 hours $ 459,380 10.30 per unit Sales volume Sales price Materials cost $ $ Materials usage Labor cost Labor usage $ Fixed cost spending Fixed cost per unit (volume) 11.60 per unit

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 13MCQ: (Appendix 10A) Which of the following items describes practices surrounding the recording of...

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