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Question list Question 1 Question 2 Question 3 Question 4 FlowerMate is a manufacturer of large flower pots for urban settings. The company has these
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FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards:
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Requirement Compute the direct material price variance and the direct material quantity variance. Enter the variances as positive numbers. Enter currency amounts in the formul cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable F or unfavorable U Abbreviations used: DM Direct materials
First determine the formula for the price variance, then compute the price variance for direct materials.
DM price variance
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Actual Results
FlowerMate allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of flower pots:
tableDirect materials.........,tablePurchased pounds at a cost of $ per pound;used pounds to produce potsDirect labor. tableWorked hours per flower pot total DLH at acost of $ per hourtableActual variable manufacturingoverheadtable$ per direct labor hour for total actual variablemanufacturing overhead of $
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