The following information relates to product A: Quantity Unit Price Cost Per Unit Material (kg) 5 £15 £75 Labour (hours) 4 £20 £80 Budgeted production 1250 Units Actual production 1000 Units Actual inputs were as follows: Material 6000 Kgs £100,000 Labour 3800 hours £70,000 A0. What is Material Price Variance? Choose one from the following: A. £10,000 Favourable B. £10,000 Unfavourable C. £15,000 Favourable D. £15,000 Unfavourable

The following information relates to product A: Quantity Unit Price Cost Per Unit Material (kg) 5 £15 £75 Labour (hours) 4 £20 £80 Budgeted production 1250 Units Actual production 1000 Units Actual inputs were as follows: Material 6000 Kgs £100,000 Labour 3800 hours £70,000 A0. What is Material Price Variance? Choose one from the following: A. £10,000 Favourable B. £10,000 Unfavourable C. £15,000 Favourable D. £15,000 Unfavourable

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter18: Pricing And Profitability Analysis

Section: Chapter Questions

Problem 25E: Jasmine Companys expected sales were 2,000 units at 100 per unit. During 20x1, it had actual sales...

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The production cost for UV protective sunglasses is $5.50 per unit and fixed costs are $19,400 per month. How much is the favorable or unfavorable variance if 14,000 units were produced for a total of $97,000?
Budgeted unit sales for the entire countertop oven industry were 2,500,000 (of all model types), and actual unit sales for the industry were 2,550,000. Recall from Cornerstone Exercise 18.6 that Iliff, Inc., provided the following information: Required: 1. Calculate the market share variance (take percentages out to four significant digits). 2. Calculate the market size variance. 3. What if Iliff actually sold a total of 41,000 units (in total of the two models)? How would that affect the market share variance? The market size variance?
The production cost for a waterproof phone case is $7 per unit and fixed costs are $23,000 per month. How much is the favorable or unfavorable variance If 5,500 units were produced for a total of $61,000?
Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per unit, direct labor of $3 per unit, and manufacturing overhead of $1 per unit. Fixed costs are $35,000. What would be the budgeted amounts for 20,000 and 25,000 units?
Direct materials variances Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is 3.75 per pound. If 15,000 units used 36,000 pounds, which were purchased at 4.00 per pound, what is the direct materials (A) price variance, (B) quantity variance, and (C) cost variance?
Refer to Cornerstone Exercise 8.13. In March, Nashler Company produced 163,200 units and had the following actual costs: Required: 1. Prepare a performance report for Nashler Company comparing actual costs with the flexible budget for actual units produced. 2. What if Nashler Companys actual direct materials cost were 1,175,040? How would that affect the variance for direct materials? The total cost variance?
Refer to Cornerstone Exercise 9.9. Required: 1. Calculate the yield ratio based on the standard amounts given. 2. Calculate the standard cost per pound of the yield (rounded to the nearest cent). 3. Calculate the standard yield for actual input of 2,000 pounds of direct materials. 4. Calculate the yield variance. 5. What if the total 2,000 pounds of direct materials put into process resulted in a yield of 825 pizzas? How would that affect the yield variance? Mangia Pizza Company makes frozen pizzas that are sold through grocery stores. Mangia uses two types of direct labor: machine operators and packers. Mangia developed the following standard mix for spreading on premade pizza shells to produce 16 giant-size sausage pizzas. Mangias recent batch (designed to produce 400 pizzas) used 400 direct labor hours. Of the total, 160 were for machine operators, and the remaining 240 hours were for packers. The actual yield was 780 pizzas. Required: 1. Calculate the standard mix (SM) in hours for machine operators and for packers. 2. Calculate the mix variance. 3. Calculate the actual proportion of hours worked by machine operators and by packers. Use these results to explain the direction (favorable or unfavorable) of the mix variance. 4. What if of the total 400 direct labor hours worked, 200 were worked by each type of direct labor? How would that affect the mix variance?
Nashler Company has the following budgeted variable costs per unit produced: Budgeted fixed overhead costs per month include supervision of 98,000, depreciation of 76,000, and other overhead of 245,000. Required: 1. Prepare a flexible budget for all costs of production for the following levels of production: 160,000 units, 170,000 units, and 175,000 units. 2. What is the per-unit total product cost for each of the production levels from Requirement 1? (Round each unit cost to the nearest cent.) 3. What if Nashler Companys cost of maintenance rose to 0.22 per unit? How would that affect the unit product costs calculated in Requirement 2?
Judges Gavel uses this information when preparing their flexible budget: direct materials of $3 per unit, direct labor of $2.50 per unit, and manufacturing overhead of $1.25 per unit. Fixed costs are $49,000. What would be the budgeted amounts for 33,000 and 35,000 units?
he following information relates to product A: Quantity Unit Price Cost Per Unit Material (kg) 5 £15 £75 Labour (hours)     4 £20 £80 Budgeted production 1250 Units Actual production 1000 Units         Actual inputs were as follows:         Material 6000 Kgs £100,000         Labour 3800 hours £70,000 A). Calculate Material Usage Variance. Choose one from the following: A. £10,000 Favourable B. £10,000 Unfavourable C. £15,000 Favourable D. £15,000 Unfavourable
The following information relates to product A: Quantity Unit Price Cost Per Unit Material (kg) 5 £15 £75 Labour (hours)     4 £20 £80 Budgeted production 1250 Units Actual production 1000 Units         Actual inputs were as follows:         Material 6000 Kgs £100,000         Labour 3800 hours £70,000 A). Calculate Material Cost Variance Choose one from the following: A. £10,000 Unfavourable B. £15,000 Favourable C. £25,000 Unfavourable D. £30,000 Favourable
The following information is available from the KANSAN CORP.: Actual factory O/H                                                                                  P15,000 Fixed O/H expenses, actual                                                                        P7,200 Fixed O/H expenses, budgeted                                                                   P7,000 Actual hours                                                                                             3,500 Standard hours                                                                                         3,800 Variable O/H rate per DLH                                                                           P2.50 Assuming that Tyro uses a three-way analysis of O/H variances, what is the spending variance?

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		Quantity	Unit Price	Cost Per Unit
Material (kg)		5	£15	£75
Labour (hours)	4	£20	£80

Budgeted production	1250	Units
Actual production	1000	Units

Actual inputs were as follows:
Material		6000	Kgs	£100,000
Labour		3800	hours	£70,000