Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Monique's Florals produced a special Mother's Day arrangement that Included eight roses. The standard and actual costs of the roses used in each arrangement follow:

image text in transcribed

Monique's Florals produced a special Mother's Day arrangement that Included eight roses. The standard and actual costs of the roses used in each arrangement follow: Standard Actual 8.80 x $0.55 x $e.50 $4.40 Average number of roses per arrangement Price per rose Cost of roses per arrangement 8.48 $4.62 Monique's Florals planned to make 770 arrangements but actually made 830 Reguired a. Determine the total flexible budget materlals varlance and indicate whether it is favorable (F) or unfavorable (U) b. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U) c. Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). d. Confirm the accuracy of Requirements a, b, and c by showing that the sum of the price and usage variances equals the total variance Complete this question by entering your answers in the tabs below Req A to C Req D Determine the total flexible budget materials variance, materials price variance and materials usage variance. Indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance). Round your answers to 2 decimal places.) a. Total flexible budget materials variance b. Tolal rmaterials price variance c. Total materias usage variance Req A to C Req D> Req A to C Req D Confirm the accuracy of Requirements a, b, and c by showing that the sum of the price and usage variances equals the total variance. (Select "None if there is no effect i.e.zero variance). Round your answers to 2 decimal places.) Price variance Usage variance Total variance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Software Audit Guide

Authors: John W. Helgeson

1st Edition

0873897730, 978-0873897730

More Books

Students also viewed these Accounting questions