TranscribedText: INFO REQUIRED Cost Actg Budget Variances Static Budget units sold 20,000 Revenues 2,000,000| Variable Costs: D Materials 800,000 D mfg labour 200,000 Var Mfg OH 300,000 Total Variable 1 ,300,000| Contrib Margin 700,000| Fixed Mfg OH 276,000 Oper Income 424,000| Standard Direct Material Cost per unit: 2 yds at $20 per 2 yds at $20 per yd = Standard Direct Manuf Labour per unit: 2hrs x$ 5 perlal2 hrs x $ 5 per labour hr Standard for Var Manuf Overhead per unit : 0.5 hrs x $ 30 per0.5 hrs x $ 30 per labour hr Fixed Manuf Overhead is allocated at rate of $ 45 per labour hour using same 0.5 hours for each unit as in variable manuf overhead Var MFG OH Actual 13,500 hours @ $ 20 D Materials Actual 25,000 yts x $ 30 D Mfg Lab Actual 7,500 hrs x $ 10 Actual 15,000 1,800,000| 750,000 75,000 270,000 1,095,000| 705,000| 285,000 420,000| $40 $10 $15 270,000 750,000 75,000 YOU WILL I FIND THE FLEXIBLE BUDGET 2 COMPUTE THE STATIC BUDGET VARIANCES 3 COMPUTE THE FLEXIBLE BUDGET VARIANCES 4 COMPUTE THE SALES VOLUME VARIANCES 5 FIND THE LEVE 3 - PRICE AND EFFICIENCY FOR DIRECT MATERIALS FIND THE LEVE 3 - PRICE AND EFFICIENCY FOR DIRECT MANUF LABOUR YOU SHOULD USE BOTH THE FORMULA AND 3 WAY VARIANCE FOR THE LEVEL 3 VARIANCES 6 FIND THE LEVE 3 - PRICE AND EFFICIENCY AND PROD VOLUME VARIANCE FOR VARIABLE MANUF OVERHEAD FIND THE LEVE 3 - PRICE AND EFFICIENCY AND PROD VOLUME VARIANCE FOR FIXED MANUF OVERHEAD YOU SHOULD USE THE 4 WAY VARIANCE ANALYSIS FOR THESE OVERHEAD

YOU WILL 1 FIND THE FLEXIBLE BUDGET 2 COMPUTE THE STATIC BUDGET VARIANCES 3 COMPUTE THE FLEXIBLE BUDGET VARIANCES 4 COMPUTE THE SALES VOLUME VARIANCES 5 FIND THE LEVE 3 FIND THE LEVE 3 PRICE AND EFFICIENCY FOR DIRECT MATERIALS PRICE AND EFFICIENCY FOR DIRECT MANUF LABOUR YOU SHOULD USE BOTH THE FORMULA AND 3 WAY VARIANCE FOR THE LEVEL 3 VARIANCES 6 FIND THE LEVE 3 PRICE AND EFFICIENCY AND PROD VOLUME VARIANCE FOR VARIABLE MANUF OVERHEAD FIND THE LEVE 3 - PRICE AND EFFICIENCY AND PROD VOLUME VARIANCE FOR FIXED MANUF OVERHEAD YOU SHOULD USE THE 4 WAY VARIANCE ANALYSIS FOR THESE OVERHEAD