Business, 01.12.2021 01:40, cobalt3931
Institute Technologies is choosing new cost drivers for its accounting system. One driver is labor hours; the other is a combination of machine hours for unit variable costs and number of setups for a pool of batch-level costs. Data for the past year follow.
Budget Actual
Labor hours 218,000 218,000
Machine hours 378,000 468,000
Number of setups 3,000 3,300
Unit variable cost pool $ 1,701,000 $ 2,106,000
Batch-level cost pool $ 900,000 $ 990,000
Assume that both cost pools for Institute are combined into a single pool, and labor hours is the driver. The total flexible budget for the actual level of labor hours and the total variance for the combined pool are:
Flexible Budget Variance
A. $ 1,701,000 $ 405,000 U
B. $ 2,601,000 $ 495,000 U
C. $ 2,691,000 $ 405,000 U
D. $ 3,006,000 $ 90,000 U
E. $ 3,096,000 $ 0
Multiple Choice
i. Choice A
ii. Choice B
iii. Choice C
iv. Choice D
v. Choice E
Answers: 1
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Institute Technologies is choosing new cost drivers for its accounting system. One driver is labor h...
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