ACC SE Homework: CH 7 HW 6 of 6 (6 complete) HW Score: 76.27%, 15.25 of 20 Score: 0.46 of 4 pts WP7-39 (similar to) Question Help Winchester Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $223 per board. This Includes 40 pounds of direct materials, at the budgeted price of $2 per pound, and 11 hours of direct manufacturing labor, at the budgeted rate of $13.00 per hour Following are additional data for the month of July Click the icon to view the data) Read the regulaments Requirement 1. Compute direct manufacturing labor variances for July Label each variance as favorable (F) or unfavorable (U). Price variance $ 780000 Ency variance 3 222 300 F Flexible badge variance 144 300 F Requirement 2. Compute the actual pound of direct materials used in production in July Begin by computing the number of pounds represented by the direct materials eficiency variance. Determine the formula then complete the computation Variance (pounds fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is 2 the budgeted price of $2 per pound, and 11 hours of direct manufacturing labor, at the budgeted rate of 5130 e month of July nufacturing labor variances for July. Label each variance as favorable (F) or unfavorable (U) 78,000 U 222 300 F Data Table er of en complete the computation Units completed Direct material purchases Cost of direct material purchases Actual direct manufacturing lobor hours Actual direct labor cost Direct materiais efficiency variance There were being retories 5,100 units 220.000 pounds 5660 000 39.000 hours 5585.000 51.700 F pa Cone CA actures fiberglass surfboards. The standa! als, at the budgeted price of S2 per pound, and 11 hours of direct manufacturing labor, at the budgeted rate of 513.0 for the month of July ect manufacturing labor variances for July Label each variance as favorable (F) or unfavorable (U). 78.000 U $ 222 300 F 3 144300F the ac number Requirements complete the computation 1. Compute dired manufacturing labor variances for July 2. Compute the actual pounds of direct materials used in production in July Calculate the actual price per pound of direct materiais purchased. Cicate the direct materials price variance Done Check