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Amerfond, Inc. produces the basic fillings used in many popular frozen desserts and treats-vanilla and chocolate ice creams, puddings, meringues, and fudge. Amerfond uses standard costing and carries over no inventory from one month to the next. The ice-cream product group's results for June 2017 were as follows: (Click the icon to view the results.) Read the teauirements Requirements 1 and 2. Calculate the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? Break down each static-budget variance into a flexible-budget variance and a sales-volume variance. Begin with the flexible budget columns, then enter in the sales volume variance and static budget variances. Finally, compute the static budget variance as a percentage of the static budget. Label each variance as favorable (F) or unfavorable (U). (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Round dollar amounts to the nearest whole dollar and percentages to two decimal places, X.XX %) Choose from any list or enter any number in the input fields and then click Check Answer parts remaining 5 Check Answer Clear All Amerfond, Inc. produces the basic fillings used in many popular frozen desserts and treats-vanilla and chocolate ice creams, puddings, meringue Amerfond uses standard costing and carries over no inventory from one month to the next. The ice-cream product group's results for June 2017 w BEB (Click the icon to view the results.) Read the requirements Budget Flexible Actual Results Variances Budget Units (pounds) Revenues Variable mfo costs Choose from any list or enter any number in the input fields and then click Check Answer. ar to) Q eards manufact s of direct mate additional dat to view the da CL-. pr is $181 per budgeted rat Requirements ents. 1. Compute direct manufacturing labor variances for July 2. Compute the actual pounds of direct materials used in production in July 3. Calculate the actual price per pound of direct materials purchased. 4. Calculate the direct materials price variance. ompute direct riance Print Done ist or enter an Clear All Check Ans 1 of 2 (0 complete) 4 X i Data Table ams, result Performance Report, June 2017 Actual Static Budget Results 479,000 490,000 Units (pounds) 2,586,600 2,616,600 $ Revenues 1,580,700 1,646,400 Variable manufacturing costs Print Done Clear All P 0.045 X Data Table ams, puddi results for 1,580,700 1,646,400 Variable manufacturing costs 970,200 $ 1,005,900 Contribution margin Joe Cruse, the business manager for ice-cream products, is pleased that more pounds of ice cream were sold than budgeted and that revenues were up. Unfortunately, variable manufacturing costs went up, too. The bottom line is that contribution margin declined by $35,700, which is just over 1% of the budgeted revenues of $2,586,600. Overall, Cruse feels that the business is running fine. ard Print Done ny Che Clear All W 1.680 si Requirements 1. Calculate the static-budget variance in units, revenues, variable manufacturing costs, and contribution margin. What percentage is each static-budget variance relative to its static-budget amount? Break down each static-budget variance into a flexible-budget variance and a sales-volume variance. ate to 2. Calculate the selling-price variance. 4. Assume the role of management accountant at Amerfornd. How would you present the results to Joe Cruse? Should he be more concerned? If so, why? colu et. L ce is 3. Done Print