Please help me b c d Hamper\'s Florals produced a special Mother\'s Day arrangem

Question

Please help me b c d Hamper's Florals produced a special Mother's Day arrangement that included eight roses. The standard and actual costs of the roses used in each arrangement follow. Determine the materials price variance and indicate whether it is favorable (F) or unfavorable (U). Determine the materials usage variance and indicate whether it is favorable (F) or unfavorable (U). Confirm the accuracy of Requirements a, b, and c by showing that the sum of the price and usage variances equals the total variance.

Explanation / Answer

(b) Material price variance = Actual quantity x (Actual price - Standard price)

= (790 x 8.25) x $(0.48 - 0.5) = 6,517.5 x $0.02 = $130.35 (Favorable)

(c) Material usage variance = Standard price x (Actual quantity - Standard quantity)

= $0.5 x [6,517.5 - (790 x 8)] = $0.5 x (6,517.5 - 6,320) = $0.5 x 197.5 = $98.75 (Unfavorable)

(d) Question (a) Needs to be solved in order to answer.

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