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110 points You did not receive full credit for this question in a previous attempt Problem 16-67 Comprehensive Variance Problem (LO 16-5,6) Sweetwater Company manufactures

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110 points You did not receive full credit for this question in a previous attempt Problem 16-67 Comprehensive Variance Problem (LO 16-5,6) Sweetwater Company manufactures two products, Mountain Mist and Valley Stream. The company prepares its master budget on the basis of standard costs. The following data are for March: Standards Mountain Mist Valley Stream Direct materials 3 ounces at $14.50 per ounce 4 ounces at $17.30 per ounce Direct labor 5 hours at $60.50 per hour 6 hours at $81 per hour Variable overhead (per direct labor-hour) $48 $53.50 Foed overhead (per month) $366,606 $399,360 Expected activity (direct labor-hours) 6,570 7,800 Actual results Direct material (purchased and used) 4,100 ounces at $13.50 per ounce 4,600 ounces at $19.75 per ounce Direct labor 5,000 hours at $63.25 per hour 7,510 hours at $85.60 per hour Variable overhead $266,550 $388,510 Fixed overhead $326,950 $399,400 Units produced (actual) 1,100 units 1.200 units Required: a. Compute a variance analysis for each variable cost for each product. (Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select alther option.) Required: a. Compute a variance analysis for each variable cost for each product. (Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select other option.) Direct materials Direct labor Variable overhead $ Mountain Mist Price Variance Efficiency Variance 4,100F $ 11,600U 13,750U $ 30,250F 26,5501U $ 24,000 F $ $ $ Valley Stream Price Variance Efficiency Variance 11,270 U $ 3,460 F 34,546 U $ 25,110U 13,293 F $ 16,585/ $ $ b. Compute a fixed overhead variance analysis for each product. (Do not round Intermediate calculations. Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Mountain Mist Valley Stream Price Variance Production Volume Production Volume Variance Fixed overhead 39,656 F $ 59,706U $ 30,720 Price Variance Variance $ $ 400

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