Sally May, Inc. designs and manufactures fleece quarter-zip jackets. t sells its

Question

Sally May, Inc. designs and manufactures fleece quarter-zip jackets. t sells its jackets to brand-name outdoor outfters in lots of one dozen. Sally May's May 2017 static budget and actual results for direct inputs are as follows: (Click the icon to view additional information. ?(Click the lon to view the data Read the requirements Requirement 1. Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2017. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2017. Complete the actual results, price variance, and cost columns, then the efficiency variance and flexible budget columns. Label each variance as favorable or unfavorable. (Round all answers to the nearest cent.) Actual Input Qty x Budgeted Price Efficiency Variance Actual Price Flexible Results Variance Budget May 2017 Units Direct materials 8,330.00 1,190.00 U S Direct labor Total variance 425 7,140.00 6,868.008 80.80 U S 6,787.20 $ 1,270.80 u

Explanation / Answer

Actual Resuts Price Actual Qty * Efficiency Flexible May-17 variance Budg. Price variance Budget Units 425 Direct material 8330 1190 U 7140 1020 U 6120 Direct labour 6868 80.80 U 6787.2 709.80 U 7497 Total Variance 1270.80 U 310.20 U Total Variance: 1581 U % of Total variance to Flexible budget cost 11.61% (1581/13617*100)

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