Input price variance 1 enter negative numbers with a

Assignment Help Accounting Basics

Reference no: EM13585264

Pietro's Pizza has established the following standards for making one pizza:
Dough:    0.65 pounds at $1 per pound
Labor:    0.35 hours at $10 per hour
Actual sales volume for the past month was 8,000 units. Actual dough and labor quantities and prices were as follows:
Dough:    4,000 pounds (total) at $0.5 per pound
Labor:    3,200 hours (total) at $13 per hour

Required:
(enter favorable and unfavorable variances as positive and negative numbers, without F or U)

(a) What are the input price and quantity variances for dough?

input price variance = $ 1 (enter negative numbers with a minus, i.e., negative $100 is -100, not ($100))

input quantity variance = $ 2 (enter negative numbers with a minus)

(b) What are the input price and quantity variances for labor?

input price variance = $ 3 (enter negative numbers with a minus)

input quantity variance = $ 4 (enter negative numbers with a minus)

Reference no: EM13585264

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