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Business, 19.11.2019 05:31 FombafTejanjr7503

Variance analysis question the glass vessel company has established the following budget for producing one of its handblown vases: materials (silica) 2 pounds @ 1.25 per pound labor 1.5 hours @ $15.00 per hour in march of the most recent year, glass vessel produced 300 vases using 650 pounds of materials. glass vessel purchased the 650 pounds of materials for $845. actual total labor costs for march were $7,200, which entailed 480 hours of labor. answer both of the following questions:
materials (silica) 2 pounds @ 1.25 per pound
labor 1.5 hours @ $15.00 per hour
1. what was glass vessel’s flexible budget variance for materials in march? (as part of your answer, indicate whether this variance was favorable or unfavorable.)
2. what was glass vessel’s labor efficiency/usage variance for march? (as part of your answer, indicate whether this variance was favorable or unfavorable.)
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