50 points. Castle Company planned to sell 30,000 units in January for $200 each. Castle does not keep inventories of any kind. Budgeted fixed costs are $950,000. Production standards are 4 pounds per unit at $10 per pound for direct materials and 3.5 hours per unit at $10 per hour for direct labor. Variable overhead is applied to production at a rate of $7.50 per direct labor hour.

Actual results are given below. Castle used 150,000 pounds of materials and 90,000 direct labor hours to produce 25,000 units. Fill in the rest of the chart with the master budget, flexible budget, and standard cost of actual quantity:

Master Budget Flexible Budget SCAQ Actual Results

Revenue ____________ ____________ $5,600,000

DM ____________ ____________ ____________ 1,200,000

DL ____________ ____________ ____________ 1,300,000

VOh ____________ ____________ ____________ 700,000

CM ____________ ____________ $2,400,000

Fixed Costs ____________ ____________ 1,000,000

Income ____________ ____________ $1,400,000

Now compute the following variances:

_________________________________ a. Sales price variance

_________________________________ b. Sales volume variance

_________________________________ c. Direct materials efficiency variance

_________________________________ d. Direct materials price variance

_________________________________ e. Direct labor efficiency variance

_________________________________ f. Direct labor price variance

_________________________________ g. Variable overhead efficiency variance

_________________________________ h. Variable overhead spending variance

_________________________________ i. Fixed cost spending variance

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