I WOULD LIKE HELP TO UNDERSTAND PROBLEM 7-36

2. Give three possible explanations for each of the three price and efficiency var a stl requirement 1c. 7-35 Service sector, solve for unknowns. Hideki Repair Shop specializes in renl Hideki uses a standard costing system based on a standard wage rate and standard labo each muffler. Some labor records for the month of August were lost, but the followin available. Actual hours of input were 1,000. The direct labor flexible-budget variance wa The standard labor price was $30.00 per hour. The labor price variance for August was s The f g inf Required 1. Calculate actual labor price per hour. 2. Calculate standard labor hours for actual total output achieved in August. 7-36 Level 2 variance analysis, solve for unknowns. Homerun Headgear manufactures andio baseball caps to ballparks and other sports venues. Homerun's plan for 2006 forecast sales of 6ou However, only 500,000 caps were sold. Based on the following data, calculate the missing nut complete the analysis Actua Th There 2e PH Grade Assist Homerun Headgear Performance Report, Year Ended December 31, 2006 Actual Flexible-Budget Flexible Sales-Yolume Statie Results VariancesBudgetVariances Budget 00.000 4 Units sold 5 Revenues (sales) $5,000,000 6 Variable costs 7 Contribution margin 8 Fixed costs 600,000 $4,800,000 1,800,000 1,400,000 $1,100,000 F 1.150000$1.00000 $500,000 U 61,000,000 1,000,000 Operating income 10 Fleable-budget variance Sales-volune variance 12 Level 2 13 14 Level 1 Static-budget variance If you want to use Excel to solve this problem, go to the Excel Lab at www.prenhall.com/horngren/cost12e and download the template for Problem 7-36. Required 1. Calculate the budgeted and actual selling prices. 2 Assuming that the driver for variable costs is units sold, what are the budgeted and actual variable costs per unit? 3. Calcufate the flexible-budget operating income. 5. Cal alculate the flexible-budget variance for operating income. cuiate the sales-volume variance for operating income. alculate the static-budget variance for operating income. 7 Direct labor and direct materials variances, missing data. (CMA, heavily adapted). Morro Bay fhoards The standard cost of direct materials and direct manufac- 6. C 2. Give three possible explanations for each of the three price and efficiency var a stl requirement 1c. 7-35 Service sector, solve for unknowns. Hideki Repair Shop specializes in renl Hideki uses a standard costing system based on a standard wage rate and standard labo each muffler. Some labor records for the month of August were lost, but the followin available. Actual hours of input were 1,000. The direct labor flexible-budget variance wa The standard labor price was $30.00 per hour. The labor price variance for August was s The f g inf Required 1. Calculate actual labor price per hour. 2. Calculate standard labor hours for actual total output achieved in August. 7-36 Level 2 variance analysis, solve for unknowns. Homerun Headgear manufactures andio baseball caps to ballparks and other sports venues. Homerun's plan for 2006 forecast sales of 6ou However, only 500,000 caps were sold. Based on the following data, calculate the missing nut complete the analysis Actua Th There 2e PH Grade Assist Homerun Headgear Performance Report, Year Ended December 31, 2006 Actual Flexible-Budget Flexible Sales-Yolume Statie Results VariancesBudgetVariances Budget 00.000 4 Units sold 5 Revenues (sales) $5,000,000 6 Variable costs 7 Contribution margin 8 Fixed costs 600,000 $4,800,000 1,800,000 1,400,000 $1,100,000 F 1.150000$1.00000 $500,000 U 61,000,000 1,000,000 Operating income 10 Fleable-budget variance Sales-volune variance 12 Level 2 13 14 Level 1 Static-budget variance If you want to use Excel to solve this problem, go to the Excel Lab at www.prenhall.com/horngren/cost12e and download the template for Problem 7-36. Required 1. Calculate the budgeted and actual selling prices. 2 Assuming that the driver for variable costs is units sold, what are the budgeted and actual variable costs per unit? 3. Calcufate the flexible-budget operating income. 5. Cal alculate the flexible-budget variance for operating income. cuiate the sales-volume variance for operating income. alculate the static-budget variance for operating income. 7 Direct labor and direct materials variances, missing data. (CMA, heavily adapted). Morro Bay fhoards The standard cost of direct materials and direct manufac- 6. C