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Flexible Budgeting and Variance Analysis I Love My Chocolate company makes dark chocolate and Hot Chocolate, Both products require cocoa and sugar. The following planning

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Flexible Budgeting and Variance Analysis I Love My Chocolate company makes dark chocolate and Hot 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 Cocoa 12 lbs 9 lbs. $5.20 Sugar 10 lbs. 0.60 Standard labor time 0.3 hr. 0.4 hr. 14 lbs Dark Chocolate Light Chocolate Planned production 4,700 cases 9,900 cases

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