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Compute the price and efficiency variances for peterson food

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Reference no: EM132762609

Peterson Foods manufactures pumpkin scones. For January 2014, it budgeted to purchase and use 15,000 pounds of pumpkin at $0.89 a pound. Actual usage and purchase for January 2014 were 16,000 pounds at $0.82 a pound. Peterson budgeted for 60,000 pumpkin scones. Actual output was 60,800 pumpkin scones.

Problem 1. Compute the flexible-budget variance.

Problem 2. Compute the price and efficiency variances.

Reference no: EM132762609

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