eBook Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound 12 lbs. 9 lbs. $5.00 Sugar 10 lbs. 14 lbs. 0.60 Standard labor time 0.3 hr. 0.4 hr. Dark Chocolate Light Chocolate Planned production 4,700 cases 10,300 cases Standard labor rate $14.50 per hr. $14.50 per hr. I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results: Light Chocolate 10,700 Actual Pounds Purchased and Used Dark Chocolate Actual production (cases) 4,500 Cocoa Sugar Actual Price per Pound $5.10 151,100 0.55 189,900 Actual Labor Rate Actual Labor Hours Used Dark chocolate $14.10 per hr 1,230 Light chocolate 14.90 per hr. 4,390 Previous Flexible Budgeting and Variance Analysis I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Standard Amount per Case Dark Chocolate Light Chocolate Standard Price per Pound 12 lbs. 9 lbs. $5.00 Sugar 10 lbs. 14 lbs. 0.60 Standard labor time 0.3 hr 0.4 hr. Dark Chocolate Light Chocolate Planned production 4,700 cases Standard labor rate $14.50 per hr. 10,300 cases $14.50 per hr. I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results: Light Chocolate 10,700 Actual Pounds Purchased and Used Dark Chocolate Actual production (cases) 4,500 Actual Price per Pound Sugar $5.10 0.55 151,100 189,900 Actual Labor Rate Actual Labor Hours Used Dark chocolate Light chocolate $14.10 per hr 1,230 14.90 per he 4,390 Bequired: Previous Next