Ashley manufactures embroidered jackets. The company prepares flexible budgets and uses a standard cost system to control manufacturing costs. The following standard unit cost of a jacket is based on the static budget volume of 14,300 jackets per more ES: (Click the icon to view the cost data.) Requirements Data Table Requirement 1. Compute the price and efficiency variances for direct materials and direct labour Begin by determining the formula for the price variance, then compute the price variances for direct materials (DM) and direct labour (DL) (Enter the results a ( Actual price per input unit Standard price per input unit X Actual quantity of input Price variance DM 10.80 ) x DL 18.20 Next, determine the formula for the efficiency variance, then compute the efficiency variances for direct materials (DM) and direct labour (DL) (Enter the resul Direct materials 3.0 sq.mx $3.60 per sqm) $ 10 80 Direct labour ( 2 hours x $9.10 per hour) 18.20 Manufacturing overhead Variable (2 hours x $0.62 per hour) $ 1 24 4.20 5 44 Fixed ( 2 hours x $2.10 per hour) $ 34 44 Total cost per jacket Data for November of the current year include the following a. Actual production was 13,900 jackets b. Actual direct materials usage was 2.40 m2 per jacket at an actual cost of $3 80 Actual quantity of input Standard quantity of input Standard price per input unit Efficiency variance ) DM C DL ) X Requirement 2. For manufacturing overhead, compute the total variance, the flexible budget variance, and the production volume variance. (Enter the results per m2 c. Actual direct labour usage of 25,600 hours cost $235,520 d. Total actual overhead cost was $77,000 Ashley Manufacturing Overhead Variances Print Done Total overhead variance: Actual overhead cost Standard overhead allocated to production Choose from any list or enter any number in the input fields and then continue to the next question. Ashley manufactures embroidered jackets. The company prepares flexible budgets and uses a standard cost system to control manufacturing costs. The following standard unit cost of a jacket is based on the static budget volume of 14,300 jackets per more ES: (Click the icon to view the cost data.) Requirements Data Table Requirement 1. Compute the price and efficiency variances for direct materials and direct labour Begin by determining the formula for the price variance, then compute the price variances for direct materials (DM) and direct labour (DL) (Enter the results a ( Actual price per input unit Standard price per input unit X Actual quantity of input Price variance DM 10.80 ) x DL 18.20 Next, determine the formula for the efficiency variance, then compute the efficiency variances for direct materials (DM) and direct labour (DL) (Enter the resul Direct materials 3.0 sq.mx $3.60 per sqm) $ 10 80 Direct labour ( 2 hours x $9.10 per hour) 18.20 Manufacturing overhead Variable (2 hours x $0.62 per hour) $ 1 24 4.20 5 44 Fixed ( 2 hours x $2.10 per hour) $ 34 44 Total cost per jacket Data for November of the current year include the following a. Actual production was 13,900 jackets b. Actual direct materials usage was 2.40 m2 per jacket at an actual cost of $3 80 Actual quantity of input Standard quantity of input Standard price per input unit Efficiency variance ) DM C DL ) X Requirement 2. For manufacturing overhead, compute the total variance, the flexible budget variance, and the production volume variance. (Enter the results per m2 c. Actual direct labour usage of 25,600 hours cost $235,520 d. Total actual overhead cost was $77,000 Ashley Manufacturing Overhead Variances Print Done Total overhead variance: Actual overhead cost Standard overhead allocated to production Choose from any list or enter any number in the input fields and then continue to the next