Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 399 Weeks Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 12.00

Belgian Chocolate Company

Flexible Budgeting and Variance Analysis

 

Belgian Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available:

 

Standard Amount per Case
  Dark Chocolate Light Chocolate Standard Price per Pound
Cocoa 11 lbs.   8 lbs.   $5.40  
Sugar 9 lbs.   13 lbs.   0.60  
Standard labor time 0.50 hr.   0.60 hr.      

 

  Dark Chocolate Light Chocolate
Planned production 5,400 cases   10,100 cases  
Standard labor rate $13.50 per hr.   $13.50 per hr.  

 

Belgian Chocolate does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, Belgian Chocolate had the following actual results:

 

  Dark Chocolate Light Chocolate
Actual production (cases) 5,100 10,500
  Actual Price per Pound Actual Pounds Purchased and Used
Cocoa $5.50   140,800  
Sugar 0.55   177,800  
  Actual Labor Rate Actual Labor Hours Used
Dark chocolate $13.00 per hr.   2,320  
Light chocolate 14.00 per hr.   6,460  

 

Required:

 

1. Prepare the following variance analyses for both chocolates and total, based on the actual results and production levels at the end of the budget year:

 

  1. Direct materials price variance,direct materials quantity variance, and total variance.
  2. Direct labor rate variance,direct labor time variance, and total variance.

 

Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If there is no variance, enter a zero.

 

a. Direct materials price variance: $
  Direct materials quantity variance: $
  Total direct materials cost variance: $
         
b. Direct labor rate variance: $
  Direct labor time variance: $
  Total direct labor cost variance: $



Here is the information given to help from the assignment; I just can't seem to figure out how to do it! Check My Work Feedback a. Price variance is the difference between the actual and standard prices, multiplied by the actual quantity. Quantity variance is the difference between the actual and standard quantities, multiplied by the standard price. Total variance is the price variance plus the quantity variance, considering their identifications as favorable or unfavorable.
b. Labor rate variance is the difference between the actual and standard hourly rates, multiplied by the actual hours. Time variance is the difference between the actual and standard hours, multiplied by the standard rate per hour. Total variance is the rate variance plus the time variance, considering their identifications as favorable or unfavorable.
c. Review how actual production is analyzed by using standard amounts.
When posting answers, please show work on how you got to answer. Thanks!

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 12:08 PM My Price 12.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)