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Kimee. Standards are as follows. Additional master budget information: Selling price $175 ...

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Accounting

Kimee.
Standards are as follows.
Additional master budget information:
Selling price $175
Fixed SG&A expense $285,000
Required
a. Present the company's complete flexible budget for the year and compare it to the actual results to determine flexible budget variances for each line item; include the amount and sign for all variances.
b. Break down the DM flexible budget variance into the price and efficiency variances. How many yards of DM did the company expect it would use for actual production? Explain what may have caused these DM variances.
c. Break down the DL flexible budget variance into the price and efficiency variances. How much DL time did the company expect it would use for its actual production? Explain what may have caused these DL variances.
improvements going into the next year:
Reconcile standard cost variances at year-end.
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