Bridgeport Company uses a flexible budget for manufacturing overhead based on direct labor hours, Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Budgeted fixed overhead costs per month are Supervision $3,440, Depreciation $1,032, and property Taxes $688. The company believes it will normally operate in a range of 6,0208,600 direct labor hours per month. Assume that in July 2022, Bridgeport Company incurs the following manufacturing overhead costs. BRIDGEPORT COMPANY Manufacturing Overhead Flexible Budget Report July 31, 2022 For the Year Ended July 31, 2022 For the Month Ended July 31, 2022 Favo Unfav Neither F Budget Actual Costs nor Unfi $ 5 5 BRIDGEPORT COMPANY Manufacturing Overhead Flexible Budget Report BRIDGEPORT COMPANY Manufacturing Overhead Flexible Budget Report Difference Favorable Unfavorable Neither Favorable Budget Actual Costs nor Unfavorable $ $ Unfavorable Favorable Neither Favorable nor Unfavorable 5 5 Favorable Neither Favorable nor Unfavorable Unfavorable (b) Prepare a flexible budget performance report, assuming that the company worked 7,310 direct labor hours during the month. fust variable costs before fixed costs.) (b) Prepare a flexible budget performance report, assuming that the company worked 7,310 direct labor hours during the month. (USt varlable costs before fixed costs. (b) Prepare a flexible budget performance report, assuming that the company worked 7,310 direct labor hours during the month. (LIst variable costs before fixed costs.) The standard cost of Product B manufactured by Sandhill Company includes 3.6 units of direct materials at $5.90 per unit. During June, 26,600 units of direct materials are purchased at a cost of $5.65 per unit, and 26,600 units of direct materials are used to produce 7,300 units of Product B. (a) Compute the total materials variance and the price and quantity variances. (b) Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.95 and the quantity purchased and used is 26,500 units. The standard cost of Product B manufactured by Sandhill Company includes 3.6 units of direct materials at $5.90 per unit. During June, 26,600 units of direct materials are purchased at a cost of $5.65 per unit, and 26,600 units of direct materials are used to produce 7,300 units of Product B. (a) Compute the total materials variance and the price and quantity variances. Total materials variance Materials price variance Materials quantity variance. $ (b) Compute the total materials variance and the price and quantity variances, assuming the purchase price is $5.95 and the quantity purchased and used is 26,500 units. Crane Company's standard labor cost of producing one unit of Product DD is 3.00 hours at the rate of $12.60 per hour. During August, 40,500 hours of labor are incurred at a cost of $12.75 per hour to produce 13,300 units of Product DD. (a) Compute the total labor variance. Total labor variance (b) (c) Compute the labor price and quantity variances, assuming the standard is 3.2 hours of direct labor at $12.85 per hour. Crane Company's standard labor cost of producing one unit of Product DD is 3.00 hours at the rate of $12.60 per hour. During August, 40,500 hours of labor are incurred at a cost of $12.75 per hour to produce 13,300 units of Product DD. (a) Compute the total labor variance. Total labor variance $ (b) Compute the labor price and quantity variances. Labor price variance Labor quantity variance $ (c) Compute the labor price and quantity variances, assuming the standard is 3.2 hours of direct labor at $12.85 per hour. Compute the labor orice and auantitv variances. (c) Compute the labor price and quantity variances, assuming the standard is 3.2 hours of direct labor at $12.85 per hour. Labor price variance Labor quantity variance $ Sunland's Hair Salon is considering opening a new location in French Lick, California. The cost of building a new salon is $271,000. A new salon will normally generate annual revenues of $64,015, with annual expenses (including depreciation) of $41,200. At the end of 15 years, the salon will have a salvage value of $80,000. Caiculate the annual rate of return on the project. Annual rate of return % Sheridan Company is considering a capital investment of $183,600 in additional productive facilities. The new machinery is expected to have a useful life of 5 years with no salvage value. Depreciation is by the straight-line method. During the life of the investment, annual net income and net annual cash flows are expected to be $10,557 and $51,000, respectively. Sheridan has a 12% cost of capital rate, which is the required rate of return on the investment. Click here to view the factor table. (a) Compute the cash payback period, (Round answer to 1 decimal ploce, eg. 10.5.) Cash payback period years Compute the annual rate of return on the proposed capital expenditure. (Round answer to 2 decimal ploces, es. 10.52\%.) Annual rate of return (b) Using the discounted cash flow technique, compute the net present value. (If the net present value is negative, use either a negative sign preceding the number es. 45 or parentheses e.9. (45). Round answer for present value to 0 decimal places, es. 125. For calculation purposes, use 5 decimal ploces as displayed in the factor table provided.) Net present value Compute the cash payback period, (Roind answer to 1 decimal ploce, es. 10.5.) Cash payback period years Compute the annual rate of return on the proposed capital expenditure. (Round answer to 2 decimal places, e.8. 10.52\%.) Annual rate of return \%. (b) Using the discounted cash flow technique, compute the net present value. If the net present value is negative, use either a negative sign preceding the number es. 45 or porentheses . . (45). Round answer for present value to 0 decimol places, es. 125. For calculotion purposes, use 5 decimal ploces as displayed in the factor table provided.) Net present value