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 standard costing and carries over no inventory from one month to the next. The ice-cream product group’s results for June 2012 were as follows:
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