Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 2. (input price and quantity variances) Pietro's Pizza has established the following standards for making one pizza: 0.7 pounds at $3 per pound Dough:

image text in transcribed

Question 2. (input price and quantity variances) Pietro's Pizza has established the following standards for making one pizza: 0.7 pounds at $3 per pound Dough: 0.25 hours at $8 per hour Labor: Actual sales volume for the past month was 12,000 units. Actual dough and labor quantities and prices were as follows: Dough: 7,200 pounds (total) at $2.5 per pound Labor: 4,200 hours (total) at $11 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

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

Auditing In The Public Sector Efficiency Economy And Program Results

Authors: James L. Savage, Felix Pomeranz, Alfred J. Cancellieri, Joseph B. Stevens

1st Edition

0882621238, 978-0882621234

More Books

Students also viewed these Accounting questions