Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Southside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizzas, For the month of June, the

image text in transcribed
image text in transcribed
Southside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizzas, For the month of June, the company plans to make 1000 pizzas. It has created a planning budget that includes a cost formula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1,100 pizzas and the actual cost of the cheese that it used during the month was $2,632 Required: 1. What is the mozzarella cheese activity variance for June? 2. What is the mozzarella cheese spending variance for June? 3. Assume that the company establishes a price standard of $0,30 per ounce for mozzarella cheese and a quantity standard of eight ounces of cheese per pizza. Also, assume that Southside actually used 9,400 ounces of cheese during the month to make 1,100 pizzas a. What is the materials price variance for mozzarella cheese for June? b. What is the materials quantity variance for mozzarella cheese for June? c. What is the materials spending variance for mozzarella cheese for June? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the mozzarella cheese activity variance for June? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I... zero variance).) Activity Variance Required 2 > 1 Southside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizzas. For the month of June, the company plans to make 1000 pizzas. It has created a planning budget that includes a cost formula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1100 pizzas and the actual cost of the cheese that it used during the month was $2.632 Required: 1. What is the mozzarella cheese activity variance for June? 2. What is the mozzarella cheese spending variance for June? 3. Assume that the company establishes a price standard of $0.30 per ounce for mozzarello cheese and a quantity standard of eight ounces of cheese per pizza. Also, assume that Southside actually used 9,400 ounces of cheese during the month to make 1100 pizzas 3. What is the materials price variance for mozzarella cheese for June? b. What is the materials quantity variance for mozzarella cheese for June? c. What is the materials spending variance for mozzarella cheese for June? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required What is the mozzarella cheese spending variance for June? (Indicate the effect of each variance by selecting for favorable, for unfavorable, and None for no effectie, zero variance). flooding Venance Required 1 Required 3 >

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

Money And Banking

Authors: Robert E. Wright, Vincenzo Quadrini

1st Edition

0982043082, 9780982043080

More Books

Students also viewed these Accounting questions

Question

=+. Alliteration The Magic of Macy's tagline.

Answered: 1 week ago

Question

=+iv. Simple promise No ordinary airline (Virgin Atlantic Airway).

Answered: 1 week ago