Belgian Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The? - Finance & Business
Belgian Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The?
2 years ago
Belgian Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available:Standard Amount per CaseDark Chocolate Light Chocolate Standard Price per PoundCocoa11 lbs. 8 lbs. $5.00Sugar9 lbs. 13 lbs. 0.60Standard labor time0.50 hr. 0.60 hr. Dark ChocolateLight ChocolatePlanned production4,700 cases 11,800 casesStandard labor rate$16.00 per hr. $16.00 per hr.Belgian Chocolate does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, Belgian Chocolate had the following actual results: Dark ChocolateLight ChocolateActual production (cases)4,50012,300Actual Price per Pound Actual Pounds Purchased and UsedCocoa$5.10 148,600Sugar0.55 195,400 Actual Labor Rate Actual Labor Hours UsedDark chocolate$15.50 per hr. 2,050Light chocolate16.50 per hr. 7,560Required:1.Prepare the following variance analyses for both chocolates and total, based on the actual results and production levels at the end of the budget year:Direct materials price variance, direct materials quantity variance, and total variance.Direct labor rate variance, direct labor time variance, and total variance.Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If there is no variance, enter a zero.a.Direct materials price variance:$ Direct materials quantity variance:$ Total direct materials cost variance:$b.Direct labor rate variance:$ Direct labor time variance:$ Total direct labor cost variance:$

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1#
Did you ever figure out how to do this........ I need help with the same thing -thanks!
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ugh!! i dont get this problem!!
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