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- Can you help me interpret these results i)Revenue Variance, Price, and Volume Variance Revenue variance = Actual revenues – Static revenues = $2,200,000 - $1,9800,000 = $220,000 Price variance = Actual revenues – Flexible revenues =$2,2000,000 - $2,200,000 =$0 Volume variance = Flexible revenues – Static revenues =$2,200,000 - $1,980,000 = $220,000 ii) Cost Variance, Volume Variance and Management Variance Cost variance = Static cost - Actual cost =$1,350,000 -$1,625,000 = $-275,000 Volume = Static cost – Flexible costs = $1,350,000 - =$1,475,000 = $-125,000 Management variance = Flexible cost- Actual cost =$2,200,000 - 1,625,000 =$575,000 iii) Profit Variance Profit Variance= Actual Profit - Static Profit = 225,000 - 130,000 = 95,000 Revenue Variance = Actual Revenue - Static Revenue = 2, 200,000 - 1,980,000 = 220,000 Cost Variance = Static Cost - Actual Costs = 1,850,000 - 1,975,000 = (125,000) Can you help me interpret these resultsCompute the sales variances (total, price and volume) from the following figures: Budgete Budgeted Price per Unit Actua Produ Actual Priceper unit (') ct d quantit quantit y y P 400 25 480 30 300 50 280 45 R 200 75 240 70 100 10 800 105Compute for the following: Total gross profit variance = Price variance = Price-Quantity variance = Cost variance = Cost-Quantity variance = Format: 11,111 F or 11,111 U
- Refer to Pearce Company Using the three-variance approach, what is the efficiency variance? A. $11,770 F B. $2,200 F C. $7,975 U D. $5,775 USTANDARD COSTING ASSIGNMENT ( SOLVE ONLY 1- 17)|| 1-10 Spots Inc. uses a standard cost system for its production process. Spots applies overhead based on direct labor hours. The following information is available for July: Standard: Actual: Direct labor hours per unit Variable overhead per hour Fixed overhead per hour (based on 11,990 DLH) P3.00 2.20 Units produced Direct labor hours 4,400 8,800 P29,950 P42,300 P 2.50 Variable overhead Fixed overheadCompute for the following and indicate if its FAVORABLE or UNFAVORABLE Format: 11,111 F or 11,111 U 1. Cost price variance = 2. Cost volume variance= 3. Total gross profit variance=
- Compute for the following: Sales price variance Cost price variance Quantity variance Format: 11,111 F or 11,111 UCompute for the following and indicate if its FAVORABLE or UNFAVORABLE Format: 11,111 F or 11,111 U Cost variance= Cost-Quantity variance =A simple variance analysis performed on material costs gives the following results: S Price variance 2,000 Adverse Usage variance 3,000 Favourable When the variance analysis was performed again using a planning and operational approach, the following results were obtained: $ Operational variances Price variance 1,000 Adverse Usage variance 2,000 Favourable Planning variances Price variance 1,000 Adverse Usage variance What is the planning usage variance? $1,000 Favourable $1,000 Adverse $2,000 Favourable $2,000 Adverse
- Compute the variances in dollar amount and in percentage. (Round to the nearest whole percent.) Indicate whether the variance is favorable (F) or unfavorable (U).Budgeted Income Amount $300.00Actual Amount $325.00Dollar Variance $Percent Variance %F or UUsing 6-way variance analysis, determine the following variances: 4. Cost volume variance 5. Cost factor 6. Cost-Quantity factor Format: 111,111 U or 111,111 FMatch the term with its corresponding definition. Do not give Direct answer kindly explain it one or 2 lines - A. B. C. D. E. F. G. H. I. J. Revenue Price Variance - A. B. C. D. E. F. G. H. I. J. Budget Performance Report - A. B. C. D. E. F. G. H. I. J. Volume Variance - A. B. C. D. E. F. G. H. I. J. Controllable Variance - A. B. C. D. E. F. G. H. I. J. Ideal Standards - A. B. C. D. E. F. G. H. I. J. Direct Labor rate Variance - A. B. C. D. E. F. G. H. I. J. Direct Materials…