Your managerial accountant provided you with information comparing the actual results to the budgeted amounts for the period: StaticFlexibleActualQuantity3,200 DL hours2,900 hours2,900 hoursPrice$15 per hour$15 per hour$18 per hourTotal Costs$48,000$43,500$52,200 Based on the information provided, select all of the true statements from the following options: Your managerial accountant provided you with information comparing the actual results to the budgeted amounts for the period: StaticFlexibleActualQuantity3,200 DL hours2,900 hours2,900 hoursPrice$15 per hour$15 per hour$18 per hourTotal Costs$48,000$43,500$52,200 Based on the information provided, select all of the true statements from the following options: The price variance is $8,700, favorableThe price variance is $8,700, unfavorableThe total budget variance is $42,000, favorableThe price variance is $3.00, favorableThe quantity variance is $4,500, favorableThe quantity variance is 300, unfavorableThe quantity variance is $4,500, unfavorable

The objective of the question is to calculate the price variance, quantity variance, and total…

Answered: Your managerial accountant provided you…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter10: Evaluating Decentralized Operations

Section: Chapter Questions

Problem 1PB

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Question

Your managerial accountant provided you with information comparing the actual results to the budgeted amounts for the period:

	Static	Flexible	Actual
Quantity	3,200 DL hours	2,900 hours	2,900 hours
Price	$15 per hour	$15 per hour	$18 per hour
Total Costs	$48,000	$43,500	$52,200

Based on the information provided, select all of the true statements from the following options:

Your managerial accountant provided you with information comparing the actual results to the budgeted amounts for the period:

	Static	Flexible	Actual
Quantity	3,200 DL hours	2,900 hours	2,900 hours
Price	$15 per hour	$15 per hour	$18 per hour
Total Costs	$48,000	$43,500	$52,200

Based on the information provided, select all of the true statements from the following options:

The price variance is $8,700, favorable

The price variance is $8,700, unfavorable

The total budget variance is $42,000, favorable

The price variance is $3.00, favorable

The quantity variance is $4,500, favorable

The quantity variance is 300, unfavorable

The quantity variance is $4,500, unfavorable

Definition Definition Measure used to estimate the difference between the budgeted and annual proportion for a specific accounting year. A favorable budget variance refers to positive variances or gains, while unfavorable or negative variances refer to a shortfall in the budget. A budget variance is indicative of the instances where the actual costs incurred are higher or lower than the estimated costs.

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