Acom Monitoring produces ceramic teapots. Appleton alocates Overhead tored on the number of orac ubor hours. The company looking to winga anduri colyton ardhu Severed the town andata forewire cick the foon to view the standards) X Actual cost and operating data from the most recent montarea biom Data table icon bow the Al Manufacturing overed a alocated on the basis of direct labor tour Read the Standard Direct 50 pounds per both 3.00 per pound Requirement 1. Calculate the standard cost of one Dector 5 hours perbach 31000 per hout Standard cost Sada com per bancn ble Moderne 5300 per direct te hou Det material Predeamine ed OH $5.00 per dos aborto Decibor Total budged to MOHot 10 Vans MOH X Foad MOH Data table Total standard cost Purchased 3.480 pounds of $270 per pound Used 3.300 pounds in prodong the Actul decor cost of $3.005 e directions per hour of $10.50 Aurable MONS1.122 A MOH 2.450 Print Done Requirements 1. Calculate the standard cost of one batch. 2. Calculate the following variances: a. The direct material variances. b. The direct labor variances. c. The variable manufacturing overhead variances. d. The fixed manufacturing overhead variances. 3. Have the company's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why or why not? 4. Describe how the company's managers can benefit from the standard costing system. Do you think the company should continue with the standard cost system? Data table Standards: Direct material 50 pounds per batch at $3.00 per pound Direct labor 5.0 hours per batch at $10.00 per hour Variable MOH standard rate $3.00 per direct labor hour Predetermined fixed MOH standard rate $5.00 per direct labor hour Total budgeted fixed MOH cost $1,950 Data table Purchased 3,480 pounds at a cost of $2.70 per pound Used 3,300 pounds in producing 60 batches Actual direct labor cost of $3,465 at an average direct labor cost per hour of $10.50 Actual variable MOH $1,122 Actual fixed MOH $2,450