Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ok ht Monique's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in

image text in transcribed

ok ht 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: Check my Average number of roses per arrangement Price per rose Standard 7.00 * $ 0.45 $ 3.15 Actual 7.50 x $0.40 $ 3.00 Cost of roses per arrangement Monique's Florals planned to make 815 arrangements but actually made 920. Required a. Determine the total flexible budget materials variance 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 a. Determine the total flexible budget materials variance 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). Note: Select "None" if there is no effect (i.e., zero variance). Do not round your intermediate calculations. Round your answers to 2 decimal places. Show less

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

Step: 3

blur-text-image

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

Introduction to Governmental and Not for Profit Accounting

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

7th edition

9780132776073, 132776014, 978-0132776011

More Books

Students also viewed these Accounting questions

Question

understand the general outline and structure of the current book.

Answered: 1 week ago

Question

Explain all drawbacks of the application procedure.

Answered: 1 week ago