Consider the following data collected for Homes, Inc.: Direct Materials Manufacturing Labor Costs incurred:...
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Accounting
Consider the following data collected for Homes, Inc.:
Direct Materials Manufacturing Labor Costs incurred: actual inputs x actual prices $216,000 $94,000 Actual inputs x standard prices 214,000 89,000 Standard inputs allowed for actual output x standard prices 205,000 79,000
Requirement Compute the price, efficiency, and flexible-budget variances for direct materials and direct manufacturing labor.
Please provide details of formulas used I am practically teaching myself this material. Thanks
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