DEVRY ACCT 552 Week 5 Homework Assignment NEW
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ACCT 552 Week 5 Homework Assignment NEW
Please complete the below problems and submit your answers in the Week 5 Drop Box. See “Syllabus/Due Dates for Assignments & Exams” for due date information.
1. EM, Inc. private labels mini cupcakes for Starbucks. For April 2012, it budgeted to purchase and use 18,000 pounds of flour at $0.39 a pound. Actual purchases and usage for April 2012 were 22,000 pounds at $0.42 a pound. EM budgeted to produce 120,000 mini cupcakes. EM budgets to obtain 4 mini-cupcakes per pound of flour. Actual output was 132,000 mini cupcakes.
a.Compute the flexible-budget variance.
b.Compute the price variance.
c.Compute the efficiency variances.
Comment on the results for the requirements above and provide possible explanation for them
2.Kool Clothing is a manufacturer of designer dresses. The cost of each dress is the sum of three variable costs (direct materials cost, direct manufacturing labor costs, and manufacturing overhead costs) and one fixed-cost category (manufacturing overhead costs). Variable manufacturing overhead costs is allocated to each dress on the basis of budgeted direct manufacturing labor-hours per dress. For April 2012 each dress is budgeted to take five labor-hours. Budgeted variable manufacturing cost per labor hour is $15. The budgeted number of dresses to be manufactured in April 2012 is 1,250.
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ACCT 552 Week 4 Homework Assignment NEW