Problem: Apple Valley Orchards, Inc. (AVO), developed standard costs for direct material and direct labor. In 2019, AVO estimated the following standard costs for one of their most well-loved products, the AVO classic Grandma's large apple pie which had a brown sugar coating on the top of the crust as well as including cranberry and mince ingredients in addition to the apples.
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Budgeted quantity
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Budgeted price
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Direct materials
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1.45 pounds
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$7.15 per pound
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Direct labor
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0.25 hours
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$14.00 per hour
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During September, AVO produced and sold 1,200 pies using 1,875 pounds of direct materials at an average cost per pound of $7.00 and 280 direct labor hours at an average wage of $14.25 per hour. Also, state if the variance is favorable or unfavorable for each answer below.
Question 1: Calculate September's direct material flexible-budget variance?
Question 2: Calculate September's direct material price variance?
Question 3: Calculate September's direct material efficiency variance?
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