Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Spreadstream Company is analyzing the differences between the actual results and the budget for the month of October, 2020. The number of units made

image text in transcribed
The Spreadstream Company is analyzing the differences between the actual results and the budget for the month of October, 2020. The number of units made is the same as those sold. The budgeted values for the month are as follows: Fixed Budget Sales revenues Direct material purchases Drect material usage (standard 1.2 kg unt) Drect labour cost (standard: 0.6 DLH unit) Varable overhead Fsed overhead For the Month of October 2020 $4,000,000 $100.00 un $ 882,000 $18.00 kg $ 864,000 $ 18,00 $ 720,000 $ 30.00 DLH $360,000 $ 15,00 DLH $ 320,000 $ 8.00 40.000 units (sets) so 49,000 kg 48,000 kg 24,000 DLH 24,000 cost driver DLH 40.000 units (sets) sold The actual amounts for the month are as follows: Actual Assounts Sales revenues Drect material purchases Direct material usage WIP Drect labour cost Variable overhead Fred overhead For the Month of October 2020 $ 4,120,500 $ 102.50 uns $ 912,500 $18.25 ke $ 885,125 $18.25 $ 722,370 $ 29.85 DLH $ 369,050 S 15.25 DLH $ 316 500 $ 7.87 un ke 40.200 units (sets) sold 50,000 kg 48,500 kg 24.200 DLH 24.200..cox driver: DLH 40 200 units (sets) sold After creating a flexible budget to account for the production difference, you are tasked with answering the following questions about the variances and whether they are favourable (F) or unfavourable (U). Choose... + 4. What is the Direct Labour Efficiency Variance? 6. What is the Variable MOH Efficiency Variance? Choose... Choose... 3. What is the Direct Labour Rate Variance? 2. What is the DM Quantity Variance? 7. What is the Fixed MOH Cost Variance? Choose... - Choose... - 1. What is the Direct Material Purchase Price Variance? Choose... 8. What is the Fixed MOH Production-Volume Variance? 5. What is the Variable MOH Spending Variance? Choose... - Choose

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

College Accounting A Practical Approach

Authors: Jeffrey Slater, Debra Good

14th Canadian Edition

0135222419, 978-0135222416

More Books

Students also viewed these Accounting questions

Question

Explain how the appraisal interview should be conducted.

Answered: 1 week ago

Question

Summarize training and development implementation issues.

Answered: 1 week ago

Question

Describe management development.

Answered: 1 week ago