Required Indicate whether each of the following variances is favorable (F) or un

Question

Required Indicate whether each of the following variances is favorable (F) or unfavorable (U). The first one has been done as an example. (Select "None" if there is no effect (i.e., zero variance).) Item to Classify Standaro Actual Type of Variance Sales volume Sales price Materials cost Materials usage Labor cost Labor usage Fixed cost spending Fixed cost per unit (volume) S 50,000 units 54,000 units S 4.00 per unit S4.10 per unit S 2.90 per pound S 3.00 per pound 91,000 pounds 90,000 pounds S 10.00 per hour S 9.60 per hour 61,000 hours 61,800 hours S 400,000 S 390,000 8.00 per unitS7.22 per unit

Explanation / Answer

Item to Classify Standard Actual Type of Variance Sales volume 50000 units 54000 units F Sales price $               4.00 per unit $               4.10 per unit F Materials cost $               2.90 per pound $               3.00 per pound U Materials usage 91000 pounds 90000 pounds F Labor cost $             10.00 per hour $               9.60 per hour F Labor usage 61000 hours 61800 hours U Fixed cost spending $         400,000 $         390,000 F Fixed cost per unit (volume) $               8.00 per unit $               7.22 per unit F

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