Financial And Managerial Accounting
15th Edition
ISBN: 9781337902663
Author: WARREN, Carl S.
Publisher: Cengage Learning,
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 23, Problem 23E
Dickinsen Company gathered the following data for December:
a. Compute the revenue price variance.
b. Compute the revenue volume variance.
c. Compute the total revenue variance.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
2. For the month of January, compute the following variances.
Compute the following variances for the month of May.a. Direct-material price variance b. Direct-material quantity variance c. Direct-material purchase price variance d. Direct-labor rate variance e. Direct-labor e ciency variance
Fortes Incorporated has provided the following data concerning one of the products in its standard cost system. Variable
manufacturing overhead is applied to products on the basis of direct labor-hours.
Standard Quantity or
Hours per Unit of Output
8.5 ounces
0.6 hours
0.6 hours.
Inputs
Direct materials
Direct labor
Variable manufacturing overhead
The company has reported the following actual results for the product for April:
6,100 units
55,050 ounces
Actual output
Raw materials purchased
Actual cost of raw materials purchased
Raw materials used in production
Actual direct labor-hours
Actual direct labor cost
Actual variable overhead cost
$ 303,010
51,860 ounces
3,360 hours
Standard Price or Rate
$6.60 per ounce
$24.80 per hour
$ 4.90 per hour
$ 86,810
$ 15,717
Required:
a. Compute the materials price variance for April.
b. Compute the materials quantity variance for April.
c. Compute the labor rate variance for April.
d. Compute the labor efficiency variance for April.
e. Compute the…
Chapter 23 Solutions
Financial And Managerial Accounting
Ch. 23 - What are the basic objectives in the use of...Ch. 23 - What is meant by reporting by the principle of...Ch. 23 - Prob. 3DQCh. 23 - Prob. 4DQCh. 23 - A. What are the two variances between the actual...Ch. 23 - A new assistant controller recently was heard to...Ch. 23 - Would the use of standards be appropriate in a...Ch. 23 - Prob. 8DQCh. 23 - At the end of the period, the factory overhead...Ch. 23 - If variances are recorded in the accounts at the...
Ch. 23 - Direct materials variances Bellingham Company...Ch. 23 - Direct labor variances Bellingham Company produces...Ch. 23 - Factory overhead controllable variance Bellingham...Ch. 23 - Factory overhead volume variance Bellingham...Ch. 23 - Standard cost journal entries Bellingham Company...Ch. 23 - Income statement with variances Prepare an income...Ch. 23 - Crazy Delicious Inc. produces chocolate bars. The...Ch. 23 - Atlas Furniture Company manufactures designer home...Ch. 23 - Salisbury Bottle Company manufactures plastic...Ch. 23 - The following data relate to the direct materials...Ch. 23 - De Soto Inc. produces tablet computers. The...Ch. 23 - Standard direct materials cost per unit from...Ch. 23 - H.J. Heinz Company uses standards to control its...Ch. 23 - Direct labor variances The following data relate...Ch. 23 - Glacier Bicycle Company manufactures commuter...Ch. 23 - Ada Clothes Company produced 40,000 units during...Ch. 23 - Mexicali On the Go Inc. owns and operates food...Ch. 23 - Direct materials and direct labor variances At the...Ch. 23 - Flexible overhead budget Leno Manufacturing...Ch. 23 - Flexible overhead budget Wiki Wiki Company has...Ch. 23 - Factory overhead cost variances The following data...Ch. 23 - Thomas Textiles Corporation began November with a...Ch. 23 - Prob. 17ECh. 23 - Factory overhead cost variance report Tannin...Ch. 23 - Recording standards in accounts Cioffi...Ch. 23 - Prob. 20ECh. 23 - Income statement indicating standard cost...Ch. 23 - Rockport Industries Inc. gathered the following...Ch. 23 - Dickinsen Company gathered the following data for...Ch. 23 - Rosenberry Company computed the following revenue...Ch. 23 - Lowell Manufacturing Inc. has a normal selling...Ch. 23 - Shasta Fixture Company manufactures faucets in a...Ch. 23 - Flexible budgeting and variance analysis I Love My...Ch. 23 - Direct materials, direct labor, and factory...Ch. 23 - Factory overhead cost variance report Tiger...Ch. 23 - CodeHead Software Inc. does software development....Ch. 23 - Direct materials and direct labor variance...Ch. 23 - Flexible budgeting and variance analysis Im Really...Ch. 23 - Direct materials, direct labor, and factory...Ch. 23 - Factory overhead cost variance report Feeling...Ch. 23 - Prob. 5PBCh. 23 - Prob. 1COMPCh. 23 - Advent Software uses standards to manage the cost...Ch. 23 - Admissions time variance Valley Hospital began...Ch. 23 - United States Postal Service: Mail sorting time...Ch. 23 - Direct labor time variance Maywood City Police...Ch. 23 - Ethics in action Dash Riprock is a cost analyst...Ch. 23 - Variance interpretation Vanadium Audio Inc. is a...Ch. 23 - MinnOil performs oil changes and other minor...Ch. 23 - Prob. 2CMACh. 23 - Frisco Company recently purchased 108,000 units of...Ch. 23 - JoyT Company manufactures Maxi Dolls for sale in...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Using the two-way analysis of overhead variances, what is the controllable variance for January?arrow_forwardFor the month of April, compute the variances, indicating whether it is favorable (F) or unfavorable (U) Q.Production-volume variance.arrow_forward2. present the analysis of the following variances for October: a.Direct materials price quantity variances b. Direct labor rate and efficiency variances. c. Variable manufacturing overhead spending and efficiency variances. 3. Indicate whether the variance is favorable or unfavorable 4. pick out two most significant variances that you have computed. Explain to MR. Santiago possible causes of these variances.arrow_forward
- For the month of April, compute the variances, indicating whether it is favorable (F) or unfavorable (U): Q. Direct materials efficiency variance ?arrow_forwardRequired: Compute the individual product and total sales volume variances for August. Compute the individual product and total sales quantity variances for August. Compute the individual and total sales mix variances for August.arrow_forward1. Summarize the variances that you computes in (1) above by showing the net overall favorable or unfavorable variances for the month. What impact did this figure have on the company's income statement? Show computations 2.Pick out the two most significant variances that you computed in (1) above. Explain tMs. Dunn possible causes of these variances.arrow_forward
- 1. Compute the materials price and quantity variances for August. 2. Compute the labor rate and efficiency variances for August. 3. Compute the variable overhead rate and efficiency variances for August.arrow_forwardRequired:(i) Prepare a standard costing profit statement, and a profit statement based on actual figures for the month of May. (ii) Prepare a statement of the variances which reconciles the actual with the standard profit or loss figure.arrow_forwardb. Calculate the profit variance c. Calculate the total revenue variance. d) Calculate the revenue volume variance. e) Calculate the revenue price variance. f) Calculate the total cost variance.arrow_forward
- For the month of April, compute the variances, indicating whether it is favorable (F) or unfavorable (U): Q. Direct materials price variance (based on purchases)?arrow_forwardCalculate the spending variances for March. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.E., zero variance) Input all amounts as positive values.)arrow_forwardQ.Prepare a static-budget-based variance analysis of the September performance.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Financial And Managerial AccountingAccountingISBN:9781337902663Author:WARREN, Carl S.Publisher:Cengage Learning,
Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub
Managerial Accounting: The Cornerstone of Busines...AccountingISBN:9781337115773Author:Maryanne M. Mowen, Don R. Hansen, Dan L. HeitgerPublisher:Cengage Learning 
Cornerstones of Cost Management (Cornerstones Ser...AccountingISBN:9781305970663Author:Don R. Hansen, Maryanne M. MowenPublisher:Cengage Learning
Financial And Managerial Accounting
Accounting
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:Cengage Learning,
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Managerial Accounting: The Cornerstone of Busines...
Accounting
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser...
Accounting
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Cengage Learning
What is Risk Management? | Risk Management process; Author: Educationleaves;https://www.youtube.com/watch?v=IP-E75FGFkU;License: Standard youtube license