Burte Corporation prepared the following variance report. Fill in the missing am

Question

Burte Corporation prepared the following variance report.

Fill in the missing amounts or letters in the report. (Round price to 2 decimal places, e.g. 2.75.)

BURTE CORPORATION
Variance Report—Purchasing Department
For Week Ended January 9, 2014

Type of
Materials

Quantity
Purchased

Actual
Price

Standard
Price

Price
Variance

Explanation

BURTE CORPORATION
Variance Report—Purchasing Department
For Week Ended January 9, 2014

Type of
Materials

Quantity
Purchased

Actual
Price

Standard
Price

Price
Variance

Explanation

Rogue11 lbs. $5.17 $4.98 $5,244 UFNA Price increase Storm17 5,700 oz. $ $3.26 $912 U Rush order Beast29 20,000 units $0.39 $ $800 F Bought larger quantity

Explanation / Answer

price variance=(standard cost- Actual cost incurred)* actual quantity of units prchased

For Rouge11

5244=(5.17-4.98)*quantity purchased

Quantity purchased=27600 lbs.

For Storm17

912=(actual price-3.26)*5700

Actual price= $3.42

Beast29

800=(0.39- standard price)*20000

standard price= $0.35

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