Given the Following Data Required:
Compute the Price, Usage and Flexible- Budget Variances for \text

question 16

Essay

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

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Definitions:

Ecological-Systems Approach

A perspective on human development that considers all of the influences from the various contexts of development. (Later renamed bioecological theory.)

Bronfenbrenner

A psychologist known for his ecological systems theory, which considers the complex interrelations between individual development and environmental factors.

Microsystem

A part of the ecological systems theory that refers to the immediate environment in which an individual interacts, such as family, school, peers, and workplace.

Bronfenbrenner

Urie Bronfenbrenner, a developmental psychologist renowned for the Ecological Systems Theory, which explains how the inherent qualities of a child and the characteristics of the external environment interact to influence how the child grows and develops.