Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pietro's Pizza has established the following standards for making one pizza: Dough: 0.6 pounds at $2 per pound Labor: 0.15 hours at $10 per hour

Pietro's Pizza has established the following standards for making one pizza: Dough: 0.6 pounds at $2 per pound Labor: 0.15 hours at $10 per hour Actual sales volume for the past month was 13,000 units. Actual dough and labor quantities and prices were as follows: Dough: 5,850 pounds (total) at $1.25 per pound Labor: 2,600 hours (total) at $15 per hour Required: (enter favorable and unfavorable variances as positive and negative numbers, without F or U) (a) What are the input price and quantity variances for dough? materials price variance = $ (enter negative numbers with a minus, i.e., negative $100 is -100, not ($100)) materials quantity variance = $ (enter negative numbers with a minus) (b) What are the input price and quantity variances for labor? labor rate variance = $ (enter negative numbers with a minus) labor efficiency variance = $ (enter negative numbers with a minus)

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

Managerial Accounting

Authors: John Wild

1st Edition

0073403989, 978-0073403984

More Books

Students also viewed these Accounting questions