= mathal com Watch The 0 case study-Goog Course Home 7 Homework: BUSL Cost Accou

Question

= mathal com Watch The 0 case study-Goog Course Home 7 Homework: BUSL Cost Accountung&Budgetary; Control Homework: Chapter 7 Score: 0 of 1 pt E7-27 (book/static) 3of6(Ocomplete) Consider the following data collected for Great Homes, Inc E (Cick the co, to view the data tatie) Requirement Compute the price, efficiency, and frexitbie-budget variances for direct materials and dinect manufacturing labor Data Table Price variance Efficiency variance Flexible-budget variance 4,000 U 6,000 U 10,000 Direct Direct U Materials Manufacturing Labor Costs incurred: Actual inputs x actual $ 200,000 $ Actual inputs x standard prices Standard inputs allowed for actual 90,000 86,000 214 x standard prices 225,000 80,000 Print Done Choose trom any list or enter any number in the input fields and then click Check Answer Clear All

Explanation / Answer

Direct materials

Costs incurred $200000

Actual inputs * Standard price $214000

Price variance $14000 Favourable

Actual inputs * standard price $214000

Standard input allowed for actual output

* standard prices $225000

Efficiency variance $11000 Favourable

Price variance $14000 favourable

Efficiency variance $11000 favourable

Flexible budget variance $25000 favourable.

Direct manufacturing labor

Cost incurred $90000

Actual inputs * Standard price $86000

Price variance $4000 Unfavourable

Actual inputs * Standard price $86000

Standard input allowed for actual ouput*

Standard price $80000

Efficiency variance $6000 favourable

Price variance $4000 unfavourable

Flexible budget variance $10000 Unfavourable.

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