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Varience Example

In: Business and Management

Submitted By scoobyoz
Words 328
Pages 2
Variance Example 1: Horngern, 12 th ed. Pr. 7-42
Cookies Etc. bakes cookies fro retail stores. The company’s best selling cookie is Dream Chocolate which sells for $ 8 per pound. The standard monthly production level is 400.000 pounds and the standard inputs and costs per pound are:

| |Quantity per pound of Cookie |Standard Unit costs |
|Direct material | | |
| Cookie mix |10 oz. |$0.02 per oz. |
| Milk chocolate |5 oz. |$15 per oz |
| Almonds |1 oz. |$0.50 per oz |
|Direct Manufacturing labor a | | |
| Mixing |1 min |$14.40 per DLH |
| Baking |2 min |$18.00 per DLH |
|Variable overhead b |3 min |$32.40 per DLH |
|a. Direct manufacturing labor rates include employee benefits. |
|b. Allocated on the basis of direct manufacturing labor hours. |

Karen Blair, the company’s management accountant, prepares monthly budget reports based on these standard costs. Molly Cates, the company president, is disappointed with the April results shown here:
|Performance Report, April 2007 |
| |Actual | |Budget | |Variance |
|Units (pounds) | 450.000 | | 400.000 | | 50.000 |F |
|Revenues |$3.555.000 | |$3.200.000 | | 355.000 |F |
|Direct materials | 865.000 | | 580.000 | | 285.000 |U |
|Direct manufacturing labor | 348.000 | | 336.000 | | 12.000 |U |

Cates notes that despite a sizable difference increase in the pounds of cookies sold in April, Dream Chocolate’s contribution to the company’s overall profitability has been lower than expected. Blair gathers the following information to help analyze the situation:

| |Quantity |Actual Cost |
|Direct material | | |
| Cookie mix |4.650.000 oz |$93.000 |
| Milk chocolate |2.660.000 oz. |532.000 |
| Almonds |480.000 oz |240.000 |
|Direct Manufacturing labor a | | |
| Mixing |450.000 min |108.000 |
| Baking |800.000 min |240.000 |

Compute the following variances. Comment on the variances, with particular attention to the variances that may be related to each other and the controllability of each variance:
1. selling-price variance
2. direct materials price variance
3. direct materials efficiency variance
4. direct manufacturing labor efficiency variance…...

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