Flexible Budgeting and Variance Analysis Belgian Chocolate Company makes dark chocolate and light chocolate Both products require cocoa and sugar The following planning information has been made available Belgian Chocolate does not expect there to be any beginning or ending inventories of cocoa or sugar At the end of the budget year, Belgian Chocolate had the following actual results Required 1 Prepare the following variance analyses for both chocolates and total, based on the actual results and production levels at the end of the budget year Direct materials price variance, direct materials quantity variance, and total variance Direct labor rate variance, direct labor time variance, and total variance Use the minus sign to enter favorable variances as negative numbers a Direct materials price variance $ Select Favorable Unfavorable Item 2 Direct materials quantity variance $ Select Favorable Unfavorable Item 4 Total direct materials cost variance $ Select Favorable Unfavorable Item 6 b Direct labor rate variance $ Select Favorable Unfavorable Item 8 Direct labor time variance $ Select Favorable Unfavorable Item 10 Total direct labor cost variance $ Select Favorable Unfavorable Belgian Chocolate Company makes dark chocolate and light chocolate Both products require cocoa and sugar The following planning information has been made available Belgian Chocolate does not expect there to be any beginning or ending inventories of cocoa or sugar At the end of the budget year, Belgian Chocolate had the following actual results Prepare the following variance analyses for both chocolates and total, based on the actual results and production levels at the end of the budget year

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Flexible Budgeting and Variance Analysis Belgian Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has

Flexible Budgeting and Variance Analysis

Belgian Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available:

image text in transcribed

Belgian Chocolate does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, Belgian Chocolate had the following actual results:

image text in transcribed

Required:

1. Prepare the following variance analyses for both chocolates and total, based on the actual results and production levels at the end of the budget year:

Direct materials price variance, direct materials quantity variance, and total variance.
Direct labor rate variance, direct labor time variance, and total variance.

Use the minus sign to enter favorable variances as negative numbers.

a.	Direct materials price variance:	$
	Direct materials quantity variance:	$
	Total direct materials cost variance:	$

b.	Direct labor rate variance:	$
	Direct labor time variance:	$
	Total direct labor cost variance:	$

Belgian Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available: Belgian Chocolate does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, Belgian Chocolate had the following actual results: Prepare the following variance analyses for both chocolates and total, based on the actual results and production levels at the end of the budget year