Mary's Fine Fashions Mary's Fine Fashions manufactures and sells various types of women's clothing. At the end of 2011, Mary had estimated for the production and sale of 25,000 short-sleeve shirts. Each shirt has a standard calling for 2.5 yards of direct material at a standard rate of $1.25 per yard and 12 minutes of direct labor time at a standard rate of $.20 per minute. During 2012, the
company actually produced and sold 23,000 shirts. These 23,000 shirts had an actual direct materials cost of $77,142 (59,340 yards at $1.30 per yard) and an actual direct labor cost of $63,250 (253,000 minutes at $.25 per minute). Each shirt sells for $20. Refer to the Mary's Fine Fashions information above. What is Mary's flexible budget variance?
A) $14,475 F
B) $28,950 U
C) $42,267 F
D) $13,317 U
D
You might also like to view...
Which of the following statements is true of target pricing?
A) It starts with the price that customers are willing to pay. B) It uses the full product cost that a company estimates to arrive at the sales price. C) It does not consider the nonmanufacturing costs when calculating the target cost. D) It is the same as cost-based pricing.
Which of the following would increase the likelihood that a company would increase its debt ratio, other things held constant?
A. An increase in the corporate tax rate. B. An increase in the personal tax rate. C. The Federal Reserve tightens interest rates in an effort to fight inflation. D. The company's stock price hits a new low. E. An increase in costs incurred when filing for bankruptcy.
A data dictionary documents all the tables and their data types
Indicate whether the statement is true or false
The VALS typology classifies the American adult population into eight distinctive subgroups based on their motivations and level of resources. The three primary motivations include ________.
A. aptitude, ideals, and self-expression B. knowledge, education, and self-expression C. ideals, achievement, and self-expression D. independence, aptitude, and achievement E. ideals, education, and achievement