Apple Valley Orchards, Inc. (AVO), developed standard costs for direct material and direct labor. In 2011, AVO estimated the following standard costs for one of their most well loved products, the AVO classic Grandma's large apple pie which had a brown sugar coating on the top of the crust as well as including cranberry and mince ingredients in addition to the apples.
Budgeted quantity Budgeted price
Direct materials 1.5 pounds $7.25 per pound
Direct labor 0.25 hours $14.00 per hour
During September, AVO produced and sold 1,200 pies using 1,875 pounds of direct materials at an average cost per pound of $7.00 and 280 direct labor hours at an average wage of $14.25 per hour.
Circle F for favorable and U for unfavorable
1) September's direct material flexible-budget variance is: $ F or U
2) September's direct material price variance is: $F or U
3) September's direct material efficiency variance is: $F or U
4) September's direct labor flexible-budget variance is: $F or U
5) September's direct labor price variance is: $F or U
6) September's direct labor efficiency variance is: $F or U
Use the following information for questions 7-10
Wilson's Winter Woolens manufactures jackets and other wool clothing. A certain designed ski parka requires the following:
Direct materials standard 2 square yards at $13.50 per yard
Direct manufacturing labor standard 1.5 hours at $20.00 per hour
During the third quarter, the company made 1,500 parkas and used 3,150 square yards of fabric costing $39,375. Direct labor totaled 2,100 hours for $45,150.
Required:
The direct materials price and efficiency variances for the quarter is
7. Price $ F or U
8. Efficiency $ F or U
The direct manufacturing labor price and efficiency variances for the quarter.
9. Price $ F or U
10. Efficiency $F or U
Answers: 3
Business, 22.06.2019 09:20
Which statement best defines tuition? tuition is federal money awarded to a student. tuition is aid given to a student by an institution. tuition is money borrowed to pay for an education. tuition is the price of attending classes at a school.
Answers: 1
Business, 22.06.2019 14:00
How many months does the federal budget usually take to prepare
Answers: 1
Business, 22.06.2019 22:00
Which of the following is a function performed by market prices? a. market prices communicate information to buyers and sellers. b. market prices coordinate the decisions of buyers and sellers. c. market prices motivate entrepreneurs to produce those products that are currently most desired relative to their costs of production. d. all of the above are functions performed by market prices.
Answers: 2
Apple Valley Orchards, Inc. (AVO), developed standard costs for direct material and direct labor. In...
Mathematics, 18.10.2019 11:30
English, 18.10.2019 11:30
Biology, 18.10.2019 11:30
Mathematics, 18.10.2019 11:30
History, 18.10.2019 11:30
Chemistry, 18.10.2019 11:30
Arts, 18.10.2019 11:30
History, 18.10.2019 11:30
Mathematics, 18.10.2019 11:30
Mathematics, 18.10.2019 11:30
Mathematics, 18.10.2019 11:30
Biology, 18.10.2019 11:30