Amy Ann, Inc. designs and manufactures fleece quarter-zip jackets. It sells its jackets to brand-name outdoor outfitters in lots of one dozen. Amy Ann's May 2020 static budget and actual results for direct inputs are as follows: (Click the icon to view the data) Read the requirements. (Click the icon to view additional information) Requirement 1. Calculate the direct materials and direct manufacturing labor price and efficiency vanances in May 2020. What is the total flexible-budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of direct materials and direct manufacturing labor in the flexible budget? Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2020. Complete the actual results, price variance, and cost columns, then the efficiency variance and flexible budget columns. Label each variance as favorable or unfavorable. (Round all answers to the nearest cent.) Actual Input Qty x May 2020 Units Direct materials Ftext pages Get more help Actual Results Price Variance 425 11305 Budgeted Price Clear all Check answer Amy Ann, Inc. designs and manufactures fleece quarter-zip jackets. It sells its jackets to brand-name outdoor outfitters in lots of one dozen. Amy Ann's May 2020 static budget and actual results for direct inputs are as follows: (Click the icon to view additional information.) (Click the icon to view the data.) Read the requirements. Begin by calculating the direct materials and direct manufacturing labor price and efficiency variances in May 2020. Complete the actual results, price variance, and cost columns, then the efficiency variance and flexible budget columns. Label each variance as favorable or unfavorable. (Round all answers to the nearest cent.) May 2020 Actual Results Price Variance Actual Input Qty x Budgeted Price Units 425 Direct materials 11305 Direct labor 4938.50) Total variance O+ Clear all Check answer. B - Summer 2023 pter 7 Data table K Fahmida Rabbi 06/02/23 11:19 AM X 3.74 of 9 points Save fitters in lots of one dozen. Amy Ann's May Static Budget Number of jacket lots (1 lot = 1 dozen) Per Lot of Jackets: Direct materials Direct manufacturing labor Actual Results Number of jacket lots sold Total Direct Inputs: 1 Direct materials Direct manufacturing labor 400 12 yards at $1.70 per yard = $20.40 1.6 hours at $8.20 per hour $13.12 425 5,950 yards at $1.90 per yard $11,305.00 595 hours at $8.30 per hour $4,938.50 ay 2020. What is the total flexible-budget ance of the total cost of direct materials 20. Complete the actual results, as favorable or unfavorable. (Round all xt pages Get more ne Print Done Clear all Check answer 40 Amy Ann, Inc. designs and manufactures fleece quarter-zip Jackets. It sells its jackets to brand-name outdoor outfitters in lots of one dozen. Amy Ann's May 2020 static budget and actual results for direct inputs are as follows: BER(Click the icon to view the data i Re Re var and Be pric and More info the icon to ir additional information. Amy Ann has a policy of analyzing all input vanances when they add up to more than 8% of the total cost of materials and labor in the flexible budget, and this is true in May 2020. The production manager discusses the sources of the variances "A new type of material was purchased in May. This led to faster cutting and sewing, but the workers used more material than usual as they learned to work with it. For now, the standards are fine." in May 2020. What is the total flexible-budget variance of the total cost of direct materials y 2020. Complete the actual results, nce as favorable or unfavorable. (Round all Ma Un 58 Dir Get more help- bages O Search Print Done C Clear all Check answer ENG UK 9 1119 02/06/202 apter 7 K- Question 4, E7-28 (similar to) Part 1 of 4 HW Score: 41.6%, 3.74 of 9 points O Points: 0 of 1 Save - X tters in lots of one dozen. Amy Ann's May Requirements 1. Calculate the direct materials and direct manufacturing labor price and efficiency variances in May 2020. What is the total flexible budget variance for both inputs (direct materials and direct manufacturing labor) combined? What percentage is this variance of the total cost of t direct materials and direct manufacturing labor in the flexible budget? 2. Comment on the May 2020 results. Would you continue the "experiment" of using the new material? y 2020. What is the total flexible-budget nce of the total cost of direct materials Complete the actual results, favorable or unfavorable. (Round all Direct materials 11305 Print Done +