burnsr_1963
Jan 21, 2007, 06:46 PM
Direct materials Direct mfg. cost
Cost incurred:
Actual inputs times actual prices $200,000 $90,000
Actual inputs times standard prices 214,000 86,000
Standard inputs allowed for actual outputs times
Standard prices 225,000 80,000
Output Section:
Dollar amount Indicate F or U
Direct materials:
Price variance Formula 1 F or U
Efficiency variance Formula 2
Flexible-budget variance 25,000 F
Direct manufacturing labor:
Price variance Formula 4
Efficiency variance Formula 5
Flexible-budget variance (10,000) U
Cost incurred:
Actual inputs times actual prices $200,000 $90,000
Actual inputs times standard prices 214,000 86,000
Standard inputs allowed for actual outputs times
Standard prices 225,000 80,000
Output Section:
Dollar amount Indicate F or U
Direct materials:
Price variance Formula 1 F or U
Efficiency variance Formula 2
Flexible-budget variance 25,000 F
Direct manufacturing labor:
Price variance Formula 4
Efficiency variance Formula 5
Flexible-budget variance (10,000) U