Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please do it on word or handwritting. THANKS Question 1 (13 marks) Variance Complete the following variance analysis for Maple Industries. Static (Master) Actual Flexible

please do it on word or handwritting. THANKS image text in transcribed
image text in transcribed
image text in transcribed
Question 1 (13 marks) Variance Complete the following variance analysis for Maple Industries. Static (Master) Actual Flexible Budget Budget Results Units Sold 80,000 70,000 Revenue $960,000 $780,000 Variable costs 400,000 450,000 Contribution margin 560,000 160,000U Fixed costs 225,000 210,000 15,000 F Operating profit Question 2 (4 marks) Dance Revolution Company had budgeted for 4,500 hours of dance instruction for the month of October. Its standard rate for instruction is $10 per hour. Actual revenues for the month of October were $32,000, and actual hours of instruction totaled 5,000. Required: a) Calculate the sales price variance [(standard price - actual price) x actual quantity). (2 marks) b) Calculate the sales quantity variance [(standard quantity - actual quantity) x standard price). (2 marks) Question 3 (2 marks) Information for the Yodellin' Yo-Yo Company is as follows: Quantity of input purchased (kg) Price per kg Standard 5,000 $3.25 Actual 5,300 $3.20 Required: Calculate the material quantity variance [(actual quantity - standard quantity) x standard price). Question 4 (2 marks) To complete an order, the XYZ Company incurred 2,100 direct labour hours. The standard hours for the units were 2,000 hours. The standard labour rate was $15 per hour and the actual labour rate was $14.80 per hour. Required: Calculate the direct labour rate variance [(actual price per input-standard price per input) x actual quantity). Question 5 (5 marks) WestJet is one of the leading airlines in Canada. It differentiates itself by providing superior customer service and service to smaller Canadian communities. Other companies such as Air Canada provide similar services. Required: Prepare a five forces analysis for WestJet and the Canadian airline industry

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

Analysing Financial Statements For Non-Specialists

Authors: Jim OHare

2nd Edition

1138641529, 9781138641525

More Books

Students also viewed these Accounting questions

Question

Define the terms diffusion and effusion.

Answered: 1 week ago

Question

What is the status (prevalence) of unions today?

Answered: 1 week ago