Dozen Bakery makes cupcakes and cookies. Dozen gathered the following information for the current year regarding its use of flour and butter (flour is a direct material for cupcakes and butter is a direct material for cookies): Flour (Direct Materials) Cupcakes Butter (Direct Materials) Cookies Standard quantity per batch 5 lbs. 2 lbs. Standard Price (SP) per pound $ 0.35/lb. ? Actual quantity purchased (AQP) and used per batch (pounds) ? 5 lbs. Actual Price (AP) paid 1.15/lb. $ 2.05/lb. Price variance $ 560 U $ 600 U Quantity variance $ 597 F ? Flexible budget variance ? $ 2 comma 700 U Number of units produced 370 400 What is the direct materials flexible budget variance for the flour in cupcakes?
