I need this paper done asap with a GREAT grade and no plagarism
ChrisBo89ci.acc_202_budget_variance_student_worksheet.xlsx
Budget Variance Report
Peyton Approved | |||||
Budget Variance Report | |||||
For the Year Ended … | |||||
Actual Results | Static Budget | Variance | Favorable/ Unfavorable | ||
Direct materials variances | |||||
Cost/price variance | 240,250 | 240,250 | |||
Efficiency variance | 240,250 | 281,480 | 41,230 | Favorable | |
Total direct materials variance | 480,500 | 521,730 | 41,230 | Favorable | |
Direct labor variances | |||||
Cost /price variance | 495,000 | 528,000 | 33,000 | Favorable | |
Efficiency variance | 528,000 | 480,000 | (48,000) | Unfavorable | |
Total direct labor variance | 1,023,000 | 1,008,000 | (15,000) | Unfavorable | |
Labor and Materials Variance
Labor variance | ||||||||||
actual cost | actual quantity | standard cost | standard quantity | |||||||
$ 15.00 | 33,000 | $ 16.00 | 30,000 | |||||||
495,000 | 528,000 | 480,000 | ||||||||
33,000 | 48,000 | |||||||||
Favorable | Unfavorabl | |||||||||
Labor cost/price variance | Labor efficiency variance | |||||||||
15,000 | ||||||||||
Materials variance | ||||||||||
actual cost | actual quantity | standard cost | standard quantity | |||||||
$ 7.75 | 31,000 | $ 7.75 | 30,000 | |||||||
240,250 | 240,250 | 232,500 | ||||||||
287,750 | 295,500 | |||||||||
Favorable | Unfavorabl | |||||||||
Material cost/price variance | Material efficiency variance | |||||||||
7,750 |