Kenji was closing up shop for the season and for the fiscal year-end, as well. Managers had carefully evaluated the company's performance, comparing the actual results to budget. They even dug a little deeper into the flexible budget variances to determine the respective price and efficiency (or volume) variances. The following shows the framework used to determine these variances- although you'll notice that they neglected to label the differences. DM DL Variable-MOH Fixed-MOH Actual Cost Price variance $66,250 86,700 40,100 Efficiency variance $52,000 Unnamed Column $67,400 DM 84,120 Actual Cost Master Budget Applied Fixed-MOH $50,000 $1,150 Favorable $1,600 Unfavorable 41,680 Flexible Budget $65,800 Were any of the individual variances significant? (Assume that the company defines significant as reflecting at least 5% of the flexible budget cost for that resource.) Were the total combined variances a significant portion of Kenji's COGS balance? 82,900 43,400 DL $51,500 $2,580 Unfavorable $1,220 Unfavorable Variable-MOH $1,580 Favorable $1,720 Favorable

Kenji was closing up shop for the season and for the fiscal year-end, as well. Managers had carefully evaluated the company's performance, comparing the actual results to budget. They even dug a little deeper into the flexible budget variances to determine the respective price and efficiency (or volume) variances. The following shows the framework used to determine these variancesalthough you'l notice that they neglected to label the differences. Were any of the individual variances significant? (Assume that the company defines significant as reflecting at least 5% of the flexible budget cost for that resource) Were the total combined variances a significant portion of Kenjirs coGs balance? Kenji was closing up shop for the season and for the fiscal year-end, as well, Managers had carefully evaluated the company's performance, comparing the actual results to budget. They even dug a little deeper into the flexible budget variances to determine the respective price and efficiency (or volume) variances. The following shows the framework used to determine these variances 'although you'll notice that they neglected to label the differences. Were any of the individual variances significant? (Assume that the company defines significant as reflecting at least 5% of the flexible budget cost for that resource.) Were the total combined variances a significant portion of Kenjis COGS balance? Were any of the individual variances significant? (Assume that the company defines significant as reflecting at least 5% of the flexible budget cost for that resource.) Were the total combined variances a significant portion of Kenji's COGS balance? If you were the owner of Kenji's, would you pay close attention to these variances? Why or why not? Explain to what extent you might use them to inform next year's budgeting and goal-setting process