Wonderland Company produces jewelry. The table below shows the data for the month in production of bracelets: Direct Materials Direct Labor Actual price per unit of input 0.45 0.60 Std price per unit of input 0.55 0.45 Actual units of input 385,000.00 525,800.00 Actual units of output 150,000.00 150,000.00 It takes 15 units of direct materials and 3 hrs to produce 5 rings. Required: Compute for the Material Price, Efficiency and Flexible Budget Variance as well as the Labor Rate, Efficiency and Flexible Budget Variance. Please use 2 decimal places. Indicate "U" for Unfavorable and "F" if Favorable. Amount (2 decimal places) U or F MPV MEV MFBV
Wonderland Company produces jewelry. The table below shows the data for the month in production of bracelets: Direct Materials Direct Labor Actual price per unit of input 0.45 0.60 Std price per unit of input 0.55 0.45 Actual units of input 385,000.00 525,800.00 Actual units of output 150,000.00 150,000.00 It takes 15 units of direct materials and 3 hrs to produce 5 rings. Required: Compute for the Material Price, Efficiency and Flexible Budget Variance as well as the Labor Rate, Efficiency and Flexible Budget Variance. Please use 2 decimal places. Indicate "U" for Unfavorable and "F" if Favorable. Amount (2 decimal places) U or F MPV MEV MFBV
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...
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Wonderland Company produces jewelry. The table below shows the data for the month in production of bracelets:
| Direct Materials | Direct Labor | |
| Actual price per unit of input | 0.45 | 0.60 |
| Std price per unit of input | 0.55 | 0.45 |
| Actual units of input | 385,000.00 | 525,800.00 |
| Actual units of output | 150,000.00 | 150,000.00 |
It takes 15 units of direct materials and 3 hrs to produce 5 rings.
Required: Compute for the Material Price, Efficiency and Flexible
| Amount (2 decimal places) | U or F | |
| MPV | ||
| MEV | ||
| MFBV | ||
| LRV | ||
| LEV | ||
| LFBV |
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