Atriste 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 13,800 jackets per month: (Click the icon to view the cost data.) Requirements 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 as positive numbers. Label each variance as favourable (F) or unfavourable (U).) Standard price per input unit) Actual price per input unit Price variance ( Actual price per input unit F ) x DM ) x DL Next, determine the formula for the efficiency variance, then compute the efficiency variances for direct materials (DM) and direct labour (DL). (Enter the results as positive numbers. Label each variance as favourable (F) or unfavourable (U).) Actual quantity of input Standard quantity of input ) Standard price per input unit 1= Efficiency variance U DM ( F DL ) x Requirement 2. For manufacturing overhead, compute the total variance, the flexible budget variance, and the production volume variance. (Enter the results as positive numbers. Label each variance as favourable (F) or Choose from any list or enter any number in the input fields and then continue to the next question, Atriste manu 13,800 jackets per month: (Click the icon to view the cost data.) Requirements DL Requirement 2. For manufacturing overhead, compute the total variance, the flexible budget variance, and the production volume variance. (Enter the results as positive numbers. Label each variance as favourable (F) or unfavourable (U).) Atriste Manufacturing Overhead Variances Total overhead variance: Actual overhead cost Standard overhead allocated to production Total overhead variance Overhead flexible budget variance: Actual overhead cost Choose from any list or enter any number in the input fields and then continue to the next question. (1) ENG 4:08 PM 2021-04-13 Atriste 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 o 13,800 jackets per month: 2 (Click the icon to view the cost data.) Requirements Actual overhead cost Flexible budget overhead for actual outputs Overhead flexible budget variance Production volume variance: Flexible budget overhead for actual outputs Standard overhead allocated to production Production volume variance Requirement 3. Atriste's management intentionally purchased superior materials for November production. How did this decision affect the other cost variances? Overall, was the decision wise? Explain. The favourable variances more than offset the unfavourable V variances. In total, the favourable variances far exceed the unfavourable variances V If the superior materials decreased materials and labour usage, then management's decision was Choose from any list or enter any number in the input fields and then continue to the next question. Data Table - $ 11.70 18.00 Direct materials 3.0 sq.mx $3.90 per sq. m) Direct labour ( 2 hours x $9.00 per hour) .... Manufacturing overhead: Variable (2 hours x $0.67 per hour) $ 1.34 Fixed ( 2 hours x $2.40 per hour) 4.80 6.14 Total cost per jacket. $ 35.84 Data for November of the current year include the following: a. Actual production was 13.400 jackets. b. Actual direct materials usage was 2 80 m per jacket at an actual cost of $4.00 2 per m2 c. Actual direct labour usage of 24,600 hours cost $223.860. d. Total actual overhead cost was $83.000. Print Done