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It had been a whirlwind of a year for Tamarisk Corporation, with things happening so quickly that management hadn't had time to update inventory balances
It had been a whirlwind of a year for Tamarisk Corporation, with things happening so quickly that management hadn't had time to update inventory balances or the amount of gross margin generated on its products. Needless to say, it was time someone evaluated company progress. The accounting team gathered the following information.
tableDMStandard Quantity per Unit,Standard Pricepounds,$per poundDL hours,$per DL hourVariableMOmachine hours,$per machine hourFixecmachine hours,$per machine hour
Other key budgeted and actual information:
Actual units produced:
Actual DM quantity purchased: pounds at $ per pound.
Actual DM quantity used: pounds.
Actual DL hours used: hours at $ per hour.
Actual machine hours used:
Actual variableMOH cost was $; budgeted variableMOH cost was $
Actual fixedMOH cost was $; budgeted fixedMOH cost was $
a
Conduct a complete variance analysis for all four main product costs DM DL variableMOH price and efficiency variances, and fixedMOH price and volume variances Specify the amount and sign of each variance. Round intermediate calculations to decimal places, eg and final answers to decimal places, eg
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