Modern Art, Inc., produces handpainted foam mouse pads. The following budgeted and actual results are for a

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Modern Art, Inc., produces handpainted foam mouse pads. The following budgeted and actual results are for a recent month in which actual production was equal to budgeted production.

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Which of the following are true? (There may be more than one response.)

a. The materials price variance is favorable.

b. The direct labor rate variance is favorable.

c. The materials quantity variance is unfavorable.

d. The direct labor efficiency variance is unfavorable.

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Related Book For book-img-for-question

Financial And Managerial Accounting

ISBN: 12

14th International Edition

Authors: Jan R. Williams, Joseph V. Carcello, Mark S. Bettner, Sue Haka, Susan F. Haka

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Question Posted: May 23, 2024 01:00 AM

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Modern Art, Inc., produces handpainted foam mouse pads. The following budgeted and actual results are for a

Question:

Direct materials: Foam Budgeted Amount Actual Result Usage 1.5 square feet 1.3 square feet per pad per pad Price $0.15 per $0.18 per square foot square foot Direct labor: Usage .25 hours Rate per pad $15 per hour .30 hours per pad $13 per hour

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Financial And Managerial Accounting

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