Given the Following Data Required:
Compute the Price, Quantity and Flexible?budget Variances for Direct

question 49

Essay

Given the following data: $\begin{array}{cl}&\text { Direct } & \text { Direct } \\&\text { Material } & \text { Labor }\\\text { Standard price per unit of input } & \$ 12 \text { per foot } & \$ 14 \text { per hour } \\\text { Actual price per unit of input } & \$ 14 \text { per foot } & \$ 13 \text { per hour } \\\text { Standard inputs allowed per unit } & &\\\text { of output } & 5 \text { feet } & 3 \text { hours } \\\text { Actual units of input } & 2,500 \text { feet } & 1,550 \text { hours }\\\text { Actual units produced }&600 \text { units }\end{array}$ Required:
Compute the price, quantity and flexible?budget variances for direct material and labor.Indicate whether each variance is favorable or unfavorable.

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Definitions:

Organizational Culture

The underlying values, beliefs, and practices that characterize an organization and influence its members' behavior.

Business Ethics

Principles and standards that guide behavior in the world of business, focusing on fairness, transparency, and integrity.

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The principles that guide behavior in terms of the distinction between right and wrong, often forming the foundation of decision-making in a personal or organizational context.

Bicultural Audit

An evaluation process that examines the integration, interaction, and function of two distinct cultures within an organization or societal context.