Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The blue box data is included below. Requirement 2 options (Favourable or unfavourable) (less or more) (cost overrun is insignificant of this size or cost

The blue box data is included below.image text in transcribedimage text in transcribed

image text in transcribedRequirement 2 options(Favourable or unfavourable) (less or more) (cost overrun is insignificant of this size or cost overrun would add up to a significant amount of money over time) (cost savings would save the business a substantial amount of money over time) (not bother investigating or want to investigate)

A large hamburger franchise (Jeff's) has documented the standard direct materials quantities and standard materials prices for its regular hamburger. E: (Click the icon to view the data.) Assume that a St. John's, Nfld., Jeff's sold 5,000 hamburgers yesterday and actually used the following materials. (Click the icon to view the data.) 1. Compute the direct materials efficiency variance for onion, mustard, and ketchup. 2. As a manager, what would you learn from the variances and supporting data? 1. Calculate the direct materials efficiency variance for onion, mustard, and ketchup when 5,000 hamburgers were sold. First, identify the formula, then compute the efficiency variance. (Round any interim quantity calculations to the nearest whole dollar. Round your final answers to the nearest cent. Enter ketchup quantity in grams. Label each variance as favourable (F) or unfavourable (U).) Efficiency variance D) x Onion ( Mustard ( Ketchup ( ) X 1) X rials prices for its regular hamburger Data Table - X Data Table Jeff's Jeff's Standard Direct Materials per Hamburger 1 pickle slice 1/4 teaspoon of mustard 1/8 teaspoon of onion 25 g of ketchup 1 bun 1 hamburger patty V2 Actual ingredients used to produce 5,000 hamburgers 5.150 buns 4,800 pickle slices 1,400 teaspoons of mustard 5,100 hamburger patties 800 teaspoons of onion 125.5 kg of ketchup Standard Materials Prices Buns Hamburger patties Pickle slices $0.12 each $0.22 each $0.05 per slice Onion ....... $0.12 per teaspoon Mustard $0.06 per teaspoon Ketchup $0.25 per 100 g Print Done 2. As a manager, what would you learn from the variances and supporting data? (Enter the amount as a positive number rounded to the nearest cent.) The efficiency variances suggest that Vonion, mustard, and ketchup were used than what was allotted. The total of these three variances was $ This The manager would the variance

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

Financial Accounting Version 3.1

Authors: Joe Ben Hoyle, C.J. Skender, Leah Kratz

1st Edition

1453339442, 9781453339442

More Books

Students also viewed these Accounting questions

Question

develop your skills of project planning.

Answered: 1 week ago

Question

evaluate different research strategies;

Answered: 1 week ago