Question
Pietro's Pizza has established the following standards for making one pizza: Dough: 0.55 pounds at $2...
Pietro's Pizza has established the following standards for
making one pizza:
Dough: 0.55 pounds at $2 per pound
Labor: 0.15 hours at $10 per hour
Actual sales volume for the past month was 12,000 units. Actual
dough and labor quantities and prices were as follows:
Dough: 6,000 pounds (total) at $1.75 per
pound
Labor: 2,400 hours (total) at $12 per hour
Required:
(enter favorable and unfavorable variances as positive and negative
numbers, without F or U)
(a) What are the input price and quantity variances for
dough?
materials price variance = $ (enter negative numbers
with a minus, i.e., negative $100 is -100, not ($100))
materials quantity variance = $ (enter negative
numbers with a minus)
(b) What are the input price and quantity variances for
labor?
labor rate variance = $ (enter negative numbers with
a minus)
labor efficiency variance = $ (enter negative
numbers with a minus)
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