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Analyze Valley Hospital's admissions time variance Valley Hospital began using standards to evaluate its Admissions Department. The standard was broken into two types of admissions as follows: The unscheduled admission took longer because name, address, and insurance information needed to be determined and verified at the time of admission. Information was collected on scheduled admissions prior to admitting the patient, thus requiring less time in admissions. The Admissions Department employs three full-time people for 40 hours per week at $12 per hour. For the most recent week, the department handled 102 unscheduled and 366 scheduled admissions. a. How much was actually spent on labor for the week? $ b. What are the standard hours for the actual volume of work for the week? (Round to the nearest whole hour.) hours c. Compute the direct labor time variance, and report how well the department performed for the week. In your computation, round the standard direct labor rate to the nearest whole cent. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Time variance \$ d. Which of the following factors may cause a favorable direct labor time variance for the Admissions Department? Standard Product Cost Designer Furniture Company manufactures designer home furniture. Designer Furniture uses a standard cost system. The direct labor, direct materials, and factory overhead standards for a finished dining room table are as follows: a. Determine the standard cost per dining room table. Round to two decimal places. $ per table b. A standard cost system provides the company's management a cost control tool using the principle of . Using this principle, cost deviations from standards can be investigated and corrected. Direct Materials Variances The following data relate to the direct materials cost for the production of automobile tires: Actual: 53,200lbs. at $1.80 per lb. Standard: 51,600lbs. at $1.75 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. b. The direct materials price variance should normally be reported to the are used because of production efficiencies, the variance would be reported to the . When lower amounts of direct materials . When the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the