A. Using the information given, what is the Sales Price Variance for JAX Inc.? Do not include commas in your answer

B. The actual direct materials information for JAX Inc. shows $ 67,650 (20,500 lbs. purchased and used). What is the direct materials price variance and what is the actual direct materials usage variance? Remember to label favorable or unfavorable.

C. The labor information for JAX Inc. shows $ 88,400 (5,200 hours paid and used ). What are the values of the direct labor rate variance and the direct labor efficiency variance for the year, with the favorable or unfavorable label included?

D. JAX Inc. decided to apply their overhead costs based on direct labor hours. Use the information from previous questions, and the new information shown below to answer the question.

Standard rate for applying Variable Overhead - $2.00 per DL hour

Actual Variable Overhead cost - $10,900

What is the Variable Overhead Spending Variance for JAX, Inc.?

a. $500 Favorable b. $500 unfavorable c. $100 favorable d. $100 unfavorable

E.

JAX Inc. decided to apply their overhead costs based on direct labor hours. Use the information from previous questions, and the new information shown below to answer the question.

Standard rate for applying Variable Overhead - $2.00 per DL hour

Actual Variable Overhead cost - $10,900

What is the Variable Overhead Efficiency Variance for JAX, Inc.?

a. $400 favroable b. $400 unfavroable c. $100 favorable c. $100 unfavorable

F. The amount of units budgeted to be produced and sold was 10,000 units. Which budget from the list below would use this 10,000 unit figure?

a. static budget b. flexible budget

In early 2012, JAX Inc. had budgeted for the production and sales of 10,000 units at a sales price of $30 per unit. Below is additional information Direct materials - 2 lbs. at $3 per lb Direct Labor-1/2 hr at $18 per hour Actual # of units produced and sold-10,500 Actual Sales Revenue $304,500