Actual Results Center Ware allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,200 flower pots: Direct materials Purchased 14,600 pounds at a cost of $5.50 per pound; Used 13,800 pounds to produce 1,200 pots Direct labor Worked 4.5 hours per flower pot (5,400 total DLH) at a cost of $19.00 per hour Actual variable manufacturing overhead ..... $8.60 per direct labor hour for total actual variable manufacturing overhead of $46,440 Actual fixed manufacturing overhead $50,500 Standard fixed manufacturing overhead allocated based on actual production ....... $52,800 Print Done i Standard Price and Volume Direct materials (resin) 11 pounds per pot at a cost of $5.00 per pound .4.0 hours at a cost of $21.00 per hour Direct labor Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate $8.00 per direct labor hour $50,800 $11.00 per direct labor hour (DLH) Print Done CenterWare is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Requirements 1. Compute the variable manufacturing overhead variances. What do each of these variances tell management? 2. Compute the fixed manufacturing overhead variances. What do each of these variances tell management? Requirement 1. Compute the variable manufacturing overhead variances. What do each of these variances tell management? (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).) Begin by computing the variable manufacturing overhead rate variance. First determine the formula for the rate variance, then compute the rate variance for variable manufacturing overhead. Variable overhead x rate variance Now compute the variable manufacturing overhead efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for variable manufacturing overhead. Variable overhead x efficiency variance x What do each of these variances tell management? The were than expected. The variable MOH efficiency variance tells managers that variable manufacturing overhead (MOH) rate variance tells managers that were than actual Requirement 2. Compute the fixed manufacturing overhead variances. What as favorable (F) or unfavorable (US) each of these variances tell management? (Abbreviations used: MOH = manufacturing overhead. Enter the variances as positive numbers. Label the variances Choose from any list or enter any number in the input fields and then continue to the next question. CenterWare is a manufacturer of large flower pots for urban settings. The company has these standards: : (Click the icon to view the standards.) (Click the icon to view the actual results.) Requirements 1. Compute the variable manufacturing overhead variances. What do each of these variances tell management? 2. Compute the fixed manufacturing overhead variances. What do each of these variances tell management? actual were than Requirement 2. Compute the fixed manufacturing overhead variances. What do each of these variances tell management? (Abbreviations used: MOH = manufacturing overhead. Enter the variances as positive numbers. Label the variances as favorable (F) or unfavorable (U).) Begin by computing the fixed manufacturing overhead budget variance. First determine the formula for the budget variance, then compute the budget variance for fixed manufacturing overhead. Fixed MOH = budget variance Now compute the fixed manufacturing overhead volume variance. First determine the formula for the volume variance, then compute the volume variance for fixed manufacturing overhead. Fixed MOH = volume variance What do each of these variances tell management? The V fixed overhead budget variance tells managers that The fixed overhead volume variance tells managers that Choose from any list or enter any number in the input fields and then continue to the next