Emerald Statuary manufactures bust statues of famous historical figures. All statues are the same size. Each unit requir

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Emerald Statuary Manufactures Bust Statues Of Famous Historical Figures All Statues Are The Same Size Each Unit Requir 1 (33.1 KiB) Viewed 22 times

Emerald Statuary Manufactures Bust Statues Of Famous Historical Figures All Statues Are The Same Size Each Unit Requir 2 (31.25 KiB) Viewed 22 times

Emerald Statuary Manufactures Bust Statues Of Famous Historical Figures All Statues Are The Same Size Each Unit Requir 3 (38.76 KiB) Viewed 22 times

Emerald Statuary manufactures bust statues of famous historical figures. All statues are the same size. Each unit requires the same amount of resources. The following information is from the static budget for 2017 (Click the icon to view the static budget data) Output units Revenues Direct materials Direct manufacturing labor Fixed costs Total costs Operating income: Requirement 1. Calculate the sales volume variance and flexible-budget variance for operating income Begin with the actual results, then complete the flexible budget columns and the static budget columns Label each vanance as favorable (F) or unfavorable (U) (For variances with a 50 balance, make sure to enter "0" in the appropnale tield. If the variance is zero, do not select a label) D Actual Results Flexible-Budget Variance Comm Flexible Budget Standard quantities, standard prices, and standard unt costs tollow for direct materais and deect manufacturing labor (Cack the icon to view the data) Sales-Volume Variance Read the requirements Static Budget
Statuiry manufactures bust statues of famous historical figures. All statues are the same size Each unit requires the same amount of resources. The following information is from the static budget for 2017 (Click the icon to view the static budget data) Direct materials Direct manufacturing labor Fixed costs Total costs Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manufacturing labor (Click the icon to view the dats) Read the requirements Operating income Requirement 2. Compute price and efficiency variances for direct materials and direct manufacturing labor Compute the price and efficiency variances for direct materials Label each variance as favorable (F) or unfavorable (U) Price variance Efficiency variance Compute the price and efficiency variances for direct manufacturing labor Labol each variance as tavorable (F) or unfavorable (U) Price variance Emoency varance
Data table ixed costs Total costs Expected production and sales Expected selling price per unit Total fixed costs Operating income Requirement 2. Compute price and eff Compute the price and efficiency varian Price vanance Efficiency variance Compute the price and efficiency varia Price variance Print Efficiency variance 7,000 units 680 $ $ 1,400,000 Done Requirements Data table Direct materials Direct manufacturing labor Standard Quantity 10 pounds 37 hours 1. Calculate the sales-volume variance and flexible-budget variance for operating income 2. Compute price and officiency variances for direct materials and direct manufacturing labor Print During 2017, actual number of units produced and sold was 4,800, at an average selling price of $720 Actual cost of direct materials used was $392,700, based on 66,000 pounds purchased at $5 95 per pound Direct manufacturing labor-hours actually used were 18,300, at the rate of $48.00 per hour As a result, actual direct manufacturing labor costs were $878 400 Actual fixed costs were $1,170,000 There were no beginning or ending inventories Done Standard Price 58 per pound $50 per hour Standard Unit Cost $80 $185