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A Bakery Purchased 120 pounds of flour for $144 for the purpose of making 720 cupcakes that the bakery budgeted to make during the week.
A Bakery Purchased 120 pounds of flour for $144 for the purpose of making 720 cupcakes that the bakery budgeted to make during the week. the company had budgeted to pay $1.5 per pound and use only 100 of the the pounds of flour that it purchased. At the end of the week, the company had used all 120 pounds, but actually made 768 cupcakes. Indicated whether the value is favorable or unfavorable.
- What was the volume variance for the flour?
- What was the efficiency variance for the flour?
- What was the inventory variance for the flour?
- What was the input price variance for the flour?
- what was the flour flexible budget variance?
- what was the static budget variance for flour?
I am looking for an answer with somewhat detailed working/explanation, thank you
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