Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 7-21 price and efficiency variances. peterson food

7-21 Price and efficiency variances. Peterson Foods manufactures pumpkin scones. For...

70.2K

Verified Solution

Question

Accounting

image
7-21 Price and efficiency variances. Peterson Foods manufactures pumpkin scones. For January 2012 , it budgeted to purchase and use 15,000 pounds of pumpkin at $0.89 a pound. Actual purchases and usage for January 2012 were 16,000 pounds at $0.82 a pound. Peterson budgeted for 60,000 pumpkin scones. Actual output was 60,800 pumpkin scones. 1. Compute the flexible-budget variance, 2. Compute the price and efficiency variances. 3. Comment on the results for requirements 1 and 2 and provide a possible explanation for them

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Happily Ever After Three years into the project, Corin and Lance have decided to get married....

Statistics
1.2K views

The CEO of a company wants to estimate the percent of employees that use company computers...

Psychology
1.2K views

Imagine that you are an older adult. Indicate and explain the policy issues of concern to...

General Management
1.2K views

Mobile entertainment is consider as any type of leisure activity that utilizes wireless telecommunication networks, interacts...

Geometry
1.2K views

y mx c find the for a straight line function

Accounting
1.2K views

Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from...

Accounting
1.2K views

Introduction: "Day in the Life of Your Company is a comprehensive example of the accounting...

Accounting
1.2K views

A loan is being repaid with 20 payments of $ 1,000 at the end of...

Accounting
1.2K views

HK-8aQ Company reported the following information for 2020: accounts receivable sales discounts purchase returns gross...

Accounting
1.2K views

Could a manager increase the company's operating income by allocating over-or underapplied overhead allocation to...

Finance
1.2K views

Electronic Timing, Inc. (ETI), is a small company founded 15 years ago by electronics engineers...

Finance
1.2K views

New Value Corp (NVC) most recent free cash flow (FCF) was $195 million; the FCF...