The following data relate to direct materials for the month for the Hodge Wax Company: The standard costs for the work done was 5,900 pounds of wax at $9.50 per pound. The actual costs were 6,200 pounds at $9 per pound. What is the direct materials efficiency variance?

$250 U

$2,850 U

$250 F

$3,100 F

The following data relate to direct materials for the month for the Hodge Wax Company: The standard costs for the work done was 5,900 pounds of wax at $9.50 per pound. The actual costs were 6,200 pounds at $9 per pound. What is the direct materials cost variance?

$3,100 F

$3,100 U

$250 F

$2,850 F

Sales volume variance is the difference between the _______________.

static budget and actual amounts due to differences in selling price

expected results in the flexible budget for the actual units sold and the static budget

actual amounts and the flexible budget due to differences in price and costs

flexible budget and static budget due to differences in fixed costs

Central Table Inc. has prepared a static budget at the beginning of the month. At the end of the month the following information is available:

Static Budget: Sales volume: 2,000 units: Price $50 per unit Variable costs: $12 per unit: Fixed costs: $25,000 per month Operating Income: $51,000

Actual Results: Sales volume: 1,800 units: Price $58 per unit Variable costs: $16 per unit: Fixed costs: $35,000 per month Operating Income: $40,600

Calculate the flexible budget variance for variable costs.

$5,490 U

$2,970 U

$3,960 F

$7,200 U