Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Accounting Posted 13 Aug 2017 My Price 12.00

Tuscany Statuary

Flexible budget direct materials and direct manufacturing labor variances. Tuscany 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 2009:


Standard quantities, standard prices, and standard unit costs follow for direct materials and direct manufacturing labor


During 2009, actual number of units produced and sold was 6,000. Actual cost of direct materials used was 3594,000, based on 54,000 pounds purchased at $11 per pound. Direct manufacturing labor-hours actually used were 25,000, at the rate of $38 per hour. As a result actual direct manufacturing labor consists were 3850,000. Actual fixed costs were $1,005,000. There were no beginnings or ending inventories.
1. Calculate the sales-volume variance and flexible-budget variance for operating income.
2. Compute price and efficiency variances for direct materials and direct manufacturing labor.

Answers

(5)
Status NEW Posted 13 Aug 2017 12:08 AM My Price 12.00

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