1 set for the seat covers the factory should work 1.065 hours each month to produce 2.130 sets of covers. The standard costs associated with this level of production are: Direct materials Direct labor Variable manufacturing overhead (based on direct labor-hours) Total $ 35,358 $ 8,52e Per Set of Covers $16.60 4.00 53,195 1.50 $22.10 eBook During August, the factory worked only 1.050 direct labor-hours and produced 2.700 sets of covers. The following actual costs were recorded during the month Hint Print Direct materials (6,000 yards) Direct labor Variable manufacturing overhead Pen Set Total love 543,740 $16:20 $ 11,40 4:20 $5,670 2:10 $22.50 eferences At standard. each set of covers should require 20 yards of material All of the materials purchased during the month were used in production Required: 1 Compute the materials price and quantity variances for August 2 Compute the labor rate and efficiency variances for August 3. Compute the variable overhead rate and efficiency variances for August. 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.) Material price variance Materials quantity arance 2 Laborate walance Labor efficiency variance Variable overhead rattad Variable overhead officiency and 2 overhead is applied to production on the basis of standard direct labor-hours. According to the company's planning budget the following manufacturing overhead costs should be incurred at an activity level of 20,000 labor hours (the denominator activity level) 3.33 points Variable manufacturing overhead cost Fixed manufacturing overhead cost Total manufacturing overhead cost 565,000 105.000 $ 170,000 During the most recent year, the following operating results were recorded ebook prin Activity Actual Labor-hours worked Standard labor hours allowed for the actual output Costi Actual variable manufacturing overhead cost incurred Actual fixed manufacturing overhead cost incurred 17.000 111,000 $ 74,00 $ 90,000 References At the end of the year, the company's Manufacturing Overhead account contained the following data: Actu Rafacturin Overhead 164,000 Apple 11,000 153,000 Management would like to determine the cause of the $11 800 underapplied overhead Required: 1 Compute the predetermined overhead rate. Break the rate down into variable and fixed cost elements 2. Show how the 5153.000 Applied figure in the Manufacturing Overhead account was computed 3 Breakdown the 511 800 underapplied overhead into four components variable overhead rate variance, (2 variable overhead efficiency variance (3) fixed overhead budget varlance, and (41 fixed overhead volume variance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the predetermined overhead rate. Break the rate down into variable and fixed cost elements (Round your answers to 2 decimal places) 2 Actual variable manufacturing overhead cost incurred Actual fixed manufacturing overhead cost incurred 574,000 $10.00 At the end of the year, the company's Manufacturing Overhead account contained the following data: 3.33 point Actual Manufacturin erhead 164, 300 Applied 11,800 153,000 look Management would like to determine the cause of the $11 800 underapplied overhead Print Required: 1. Compute the predetermined overhead rate Break the rate down into variable and fixed cost elements 2. Show how the $153,000 Applied figure in the Manufacturing Overhead account was computed 3. Breakdown the $11,800 underapplied overhead into four components (1) vartable overhead rate variance (2) variable overhead efficiency variance. (3) fixed overhead budget variance, and (4) fixed overhead volume variance References complete this question by entering your answers in the tabs below. Required: Required 2 Required Compute the predetermined overhead rate. Break the rate down into variable and fixed cost elements (Round your answers to 2 decimal places.) Piedetermined overhead rate Variable element Fred element per hour per hou per hou Required 2 > 2 Total manufacturing overhead cost $ 170,000 During the most recent year, the following operating results were recorded 3.33 points Activity: Actual labor-hours worked Standard labor-hours allowed for the actual output Cast: Actual variable manufacturing overhead cost incurred Actual fixed manufacturing overhead cost incurred 17,000 18,000 eBook $ 74,800 $ 90,000 Print At the end of the year, the company's Manufacturing Overhead account contained the following data: Actual Manufacturing Overhead 164,800 Applied 11,800 1537.000 References Management would like to determine the cause of the $11.800 underapplied overhead. Required: 1. Compute the predetermined overhead rate. Break the rate down into vanable and fixed cost elements 2. Show how the $153,000 Applied figure in the Manufacturing Overhead account was computed 3. Breakdown the $11,800 underapplied overhead into four components: (1) variable overhead rate variance, (2) variable overhead efficiency variance (3) fixed overhead budget variance, and (4) fixed overhead volume variance Complete this question by entering your answers in the tabs below. Required: Required 2 Required Show how the $153,000 Applied figure in the Manufacturing Overhead account was computed. (Round your per hour value to 2 decimal places.) por hour 2 Costi Actual variable manufacturing overhead cost incurred Actuel fixed manufacturing overhead cost incurred $ 74.800 90,000 13:33 points At the end of the year, the company's Manufacturing Overhead account contained the following data Actual Manufacturing Overhead 164,800 Applied 11,800 153,000 eBook Management would like to determine the cause of the $11,800 underapplied overhead. Print Required: 1. Compute the predetermined overhead rate Break the rate down into variable and fixed cost elements 2. Show how the $153,000 Applied figure in the Manufacturing Overhead account was computed. 3. Breakdown the $11,800 underapplied overhead into four components: { variable overhead rate variance. (2) variable overhead efficiency variance (3) fixed overhead budget variance, and (4) fixed overhead volume variance References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Breakdown the $11,800 underapplied overhead into four components: (1) variable overhead rate varianco, (2) variable overhead efficiency variance, (3) fixed overhead budget variance, and (4) fixed overhead volume variance Indicate the effect of each variance by selecting for favorable for unfavorable and "None" for no affect ( zero varianca) Input all amounts positive value) Show less Variable overhead Rata variance Eficiency variance Fixed overload Budget variance Volume variance 3 Exercise 10-6 (Algo) Direct Materials and Direct Labor Variances (LO10-1, LO10-2] 3.34 points 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 6.50 pounds 0.30 hours Standard Price or Rate 5 19 per pound $13.00 per hour Standard Cost 512:35 $ 3.00 elook Direct materials Direct labor Prin During the most recent month, the following activity was recorded: re 20,500.00 pounds of material were purchased at a cost of $170 per pound All of the material purchased was used to produce 3000 units of Zoom 800 hours of direct lobortime were recorded at a total labor cost of $12.000 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 (ie zero variance) Input all amounts os positive values, Round your intermedinte calculations to the nearest whole dollar 1 Materials price Variance Materials quante variance Laborate varianca Labor edency and 2