Question & Answer: generally pay for the materials, labour, or overhead for a single liulcates how much a company should unit of product. is often the key t…..

generally pay for the materials, labour, or overhead for a single liulcates how much a company should unit of product. is often the key to effective variance analysis. Required Complete the above incomplete statements with the correct terrm from the list of terms provided (note that not all terms will be used variance analysis, ideal standard, practical standard, standard cos standard price, management by exception, task analysis 2 Flexible budget preparation LO2 Garcia and Buffet, a local CPA firm, has budgeted $100000 in fixed expenses per month for the tax department. It has also budgeted variable costs of $6 per tax return prepared for supplies, $35 per return for labour,and $10 per return for computer time. The firm expects revenue from tax return preparation to be $300000, based on 2000 tax returns at $150 each. During the current month, 1850 tax returns were actually prepared, at an average fee of $147 each. Actual variable costs were $9100 for supplies, $65000 for labour, and $18000 for computer time. Actual fixed costs were $100000. Required Prepare a flexible budget for the tax department of Garcia and Buffet for the current month. 3 Flexible budget variance LO3 Refer to the information in question 2 above.