solution Tuscany Statuary manufactures bust statues of famous accounting student

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Tuscany Statuary manufactures bust statues of famous accounting students. All statues are the same size, therefore each unit requires the same DM and DL. Inventory levels did not change. The following information is provided. sales selling price per unit fixed costs DM (pounds per unit) DM (cost per pound) DM used (pounds) DM used ($$) Budget 7,000 $690.00 $1,400,000 9.00 $4.00 Actual 7,250 $670.00 $1,450,000 66,700 $293,480 DL (hours per statue) 3.70 OL (wage rate per hour) $50.00 DL (total hours) 25,375 DL (total cost) $1,319,500

Explanation / Answer

Static Budget Flex Budget Actual Sales volume 7000 7250 7250 Revenues 4830000 5002500 4857500 DM costs 252000 261000 293480 DL costs 1295000 1341250 1319500 Fixed costs 1400000 1400000 1450000 Gross profit 1883000 2000250 1794520

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