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7-22 Materials and manufacturing labor variances. Consider the
following data collected for Great Homes, Inc.
7-23 Direct materials and direct manufacturing labor
variances.GloriaDee, Inc. designs and manufactures T-shirts to
brand-name clothes retailers in lots of one dozen. GloriaDee’s May
2011 static budget and actual results for direct inputs are as follows:
7-16 Flexible budget. Brabham Enterprises manufactures tires for the
Formula I motor racing circuit. For August 2012, it budgeted to
manufacture and sell 3,000 tires at a variable cost of $74 per tire and
total fixed costs of $54,000. The budgeted selling price was $110 per
tire. Actual results in August 2012 were 2,800 tires manufactured and
sold at a selling price of $112 per tire. The actual total variable costs
were $229,600, and the actual total fixed costs were $50,000.
7-20 Flexible-budget and sales volume variances, market-share
and market-size variances. Marron, Inc., produces the basic fillings
used in many popular frozen desserts and treats—vanilla and
chocolate ice creams, puddings, meringues, and fudge. Marron uses