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Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,100 helmets, using 2,232 kilograms of plastic. The plastic cost the company $16,963 According to the standard cost card, each helmet should require 0.67 kilograms of plastic, at a cost of $8.00 per kilogram Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,100 helmets? 2, what is the standard materials cost allowed (SQ SP) to make 3100 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) Standard quantity of kilograms allowed 2. Standard cost allowed for actual output 3.Materials spending variance 4.Materials price variance Materials quantity variance Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows Standard Hours 27 minutes Standard Rate Standard per Hour $6.40 Cost $2.88 During August, 9,295 hours of direct labor time were needed to make 19,500 units of the Jogging Mate. The direct labor cost totaled $58,559 for the month. Required 1. What is the standard labor-hours allowed (SH) to makes 19,500 Jogging Mates? 2. What is the standard labor cost allowed (SHx SR) to make 19,500 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manufacturing overhead rate is $4.30 per direct labor-hour. During August, the company incurred $44,616 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month. (For requirements 3 through 5, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) 1. Standard labor-hours allowed 2. Standard labor cost allowed 3. Labor spending variance 4. Labor rate variance Labor efficiency variance 5. Variable overhead rate variance iable overhead efficiency variance Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Standard Price Standard Cost $13.80 $ 5.00 Hours or Rate Direct materials Direct labor 6.00 pounds 2.30 per pound 0.50 hours $10.00 per hour During the most recent month, the following activity was recorded a. 11,000.00 pounds of material were purchased at a cost of $2.10 per pound b. All of the material purchased was used to produce 1,500 units of Zoom. C. 500 hours of direct labor time were recorded at a total labor cost of $6,500 Required 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month. (For all requirements, Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar.) 1. Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance 2. Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 6.60 pounds Standard Price or Rate 3.00 per pound Standard Cost $19.80 $ 4.80 Direct materials Direct labor 0.40 hours $12.00 per hour During the most recent month, the following activity was recorded a. Twelve thousand eight hundred pounds of material were purchased at a cost of $2.90 per pound b. The company produced only 1,280 units, using 11,520 pounds of material. (The rest of the material purchased remained in raw materials inventory.) C. 612 hours of direct labor time were recorded at a total labor cost of $7,344 Required Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.) Materials price variance Materials quantity varian Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 7 microns per toy at $0.34 per micron Direct labor: 1.3 hours per toy at $7.40 per hour During July, the company produced 5,100 Maze toys. The toy's production data for the month are as follows Direct materials: 73,000 microns were purchased at a cost of $0.30 per micron. 28,375 of these microns were still in inventory at the end of the month. Direct labor. 7,030 direct labor-hours were worked at a cost of $54,834. Required 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.,) a. The materials price and quantity variances b. The labor rate and efficiency variances. 1a. Material price variance Material quantity variance 1b. Labor rate variance Labor efficiency variance Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Flexible Actual Budget Sales (7,880 pools) Variable expenses $ 265, eee $ 265, eee Variable cost of goods sold 97,525 19.808 98,248 116,525 166,768 148,475 79,248 19,888 Variable selling expenses Total variable expenses Contribution margin Fixed expenses: Manufacturing overhead 67,808 67,88 85,868 152,808 152,888 14,760 (3,525) Selling and administrative 85,868 Total fixed expenses Net operating income (loss) Contains direct materials, direct labor, and variable manufacturing overhead. Janet Dunn, who has just been appointed general manager of the Westwood Plant, has been given instructions to "get things under control." Upon reviewing the plant's income statement, Ms. Dunn has concluded that the major problem lies in the variable cost of goods sold. She has been provided with the following standard cost per swimming pool: Standard Quantity or Standard Price or Rate Standard Cost Hours Direct materials 3.5 pounds 0.4 hours .3 hours s2.18 per pound $ 7.68 per hour $3.18 per hour $ 7.35 3.84 8.93 $ 11.32 Direct labor Variable manufacturing overhead Total standard cost per unit Based on machine-hours. During June, the plant produced 7,000 pools and incurred the following costs: a. Purchased 29,500 pounds of materials at a cost of $2.55 per pound. b. Used 24,300 pounds of materials in production. (Finished goods and work in process inventories are insignificant and can be gnored.) c. Worked 3,400 direct labor-hours at a cost of $7.30 per hour. d. Incurred variable manufacturing overhead cost totaling $8,400 for the month. A total of 2400 machine-hours was recorded. It is the company's policy to close all variances to cost of goods sold on a monthly basis. Requlrec: 1. Compute the following variances for June a. Materials price and quantity variances. b. Labor rate and efficiency variances. c. Variable overhead rate and efficiency variances. 2 Summarize the variances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month Complete this question by entering your answers in the tabs below Required 1Required 2 1a. Compute the following variances for June, materials price and quantity variances. 1b. Compute the following variances for June, labor rate and efficiency variances. 1c. Compute the following variances for June, variable overhead rate and efficiency variances. Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance), Input all amounts as positive values. Show less 1a. Material price variance Material quantity variance 1b. Labor rate variance Labor efficiency variance 1c. Variable overhead rate variance Variable overhead efficiency variance Required 1Required 2 Summarize the variances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month. (Indicate the effect of each variance by selecting "F for favorable, "U" for unfavorable, and "None" for no effect (e zero variance). Input all amounts as positive values.) variance KRequired 1 Required 2