Question
The baker has the following flexible budget analysis for January: Cost Flexible Budget Price Variance Quantity Variance Materials $12,000 $440 U $870 F Labor 46,000
The baker has the following flexible budget analysis for January:
| Cost | Flexible Budget | Price Variance | Quantity Variance |
| Materials | $12,000 | $440 U | $870 F |
| Labor | 46,000 | 460 F | 160 U |
The Bakery purchased the same amount of units of materials as it used in production. The number of pounds of materials used totaled 2,219. Each unit of product requires a .75 pounds. The standard cost per unit was $5.30 per pound.
- How much is the actual cost of materials used?
- How much did the company spend per pound of material?
- How many pounds of material were allowed in the flexible budget?
- How many units of product did the company produce?
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College Accounting Chapters 1-15
Authors: James A Heintz, Robert W Parry
19th Edition
0324376162, 978-0324376166
