Survey of Accounting Packet $16$

E$15-5$

Additional Practice $-$ on your own outside of class

Compute variances for the following items and indicate whether each variance is favorable $($F$)$ or unfavorable $($U$)$

$\backslash$table$[[$Item$,$Budget,Actual,Variance,$\backslash$table$[[$Favorable $($F$)$ or$],[$Unfavorable $($U$)]]],[$Sales price,$$400,$$$390,,],[$Sales revenue,$$360,000,$$$390,000,,],[$Cost of goods sold,$$192,500,$$$180,000,,],[\backslash$table$[[$Material purchases at $5,000],[$pounds$]],$$$137,500,$$$140,000,,],[$Materials usage,$$90,000,$$$89,000,,],[$Production volume,$950$ units,$900$ units,,$],[$Wages at $4,000$ hours,$$30,000,$$$29,350,,],[$Labor usage at $$12$ per hour,$$48,000,$$$48,500,,],[\backslash$table$[[$Research and development$],[$expense$]],$$$11,000,$$$12,500,,],[\backslash$table$[[$Selling and administrative$],[$expenses$]],$$$24,500,$$$20,000,,]]$

$34$