Chapter 23 Mastery (Mastery) - Cancur 3. Review the definitions of favorable and unfavorable variance Direct Materials Under normal conditions, Sarah spends 8.40 per unit of materials, and it will take 3.60 units of material per pair of shoes. During July, Sol Purpose Shoe Company incurred actual direct materials costs of 561,321 for 6090 units of direct materials in the production of 2.175 pair of shoes Complete the following table, showing the direct materials a nd relationship for luy for Sale Prpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative umber for a favorable cost a nce, and a positive number for an unfavorable cost variante Standard Quantity Quantity 6,890 61,321 Favorable Direct Materials Unfavorable Direct Haber Quantity varen vorable Total Direct Materials Cost Variance -5,207 x Review Exhibit in the text. Chapter 23 Mastery (Masteryl Calculator Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour and it will take 2.00 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,340 for 7,260 hours of direct labor in the production of 2,100 pair of shoes Complete the following table, showing the direct labor variance relationships for August for Sole Purpose the Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance Standard Actual Standard 7,260 x X 8.9 6,440 X Unfavorable Price X Direct Labor Variance Quantity X Variance Review Exhibit in the text. Budget Performance Report Sarah has learned a lot from you over the past two months and has compiled the following data for Sol Purpose Shoe Company for September using the techniques you taught her. She would like your help in preparing Budget Performance Report for September. The company produced 2,500 pairs of shoes that required 0.750 nits of material purchased at 10.20 per unit and 6.750 hours of labor at an hourly rate of $8.90 per hour during the month. Actual factory overhead during September was 520,250. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance Price Use the data in the following table to prepare the budget Performance Report for Sole Purpose Shoe Company for September Standard Standard Standard Cost Manufacturing Costs Quantity Per Unit Direct materials $8.40 per unit 3.60 units per pair $10.24 Direct labor $0.50 per hour 2.80 hours per pair 23.80 Factory overhead 70 per hour 2.00 hours per par 7.56 Total standard cost per pair Sole Purpose Shoe Company Budget Performance Report For the Month Ended September 30 Standard Cost at Actual Volume Cost Variante Favorable) Unfavorable Manufacturing Costs Actual Costs Direct materials Factory overhead Total manufacturing costs Chapter 23 Mastery (Mastery) - Cancur 3. Review the definitions of favorable and unfavorable variance Direct Materials Under normal conditions, Sarah spends 8.40 per unit of materials, and it will take 3.60 units of material per pair of shoes. During July, Sol Purpose Shoe Company incurred actual direct materials costs of 561,321 for 6090 units of direct materials in the production of 2.175 pair of shoes Complete the following table, showing the direct materials a nd relationship for luy for Sale Prpose Shoe Company. If required, round your answers to two decimal places. When entering variances, use a negative umber for a favorable cost a nce, and a positive number for an unfavorable cost variante Standard Quantity Quantity 6,890 61,321 Favorable Direct Materials Unfavorable Direct Haber Quantity varen vorable Total Direct Materials Cost Variance -5,207 x Review Exhibit in the text. Chapter 23 Mastery (Masteryl Calculator Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour and it will take 2.00 hours of labor per pair of shoes. During August, Sole Purpose Shoe Company incurred actual direct labor costs of $65,340 for 7,260 hours of direct labor in the production of 2,100 pair of shoes Complete the following table, showing the direct labor variance relationships for August for Sole Purpose the Company. If required, round your answers to two decimal places. When entering variances, use a negative number for a favorable variance, and a positive number for an unfavorable variance Standard Actual Standard 7,260 x X 8.9 6,440 X Unfavorable Price X Direct Labor Variance Quantity X Variance Review Exhibit in the text. Budget Performance Report Sarah has learned a lot from you over the past two months and has compiled the following data for Sol Purpose Shoe Company for September using the techniques you taught her. She would like your help in preparing Budget Performance Report for September. The company produced 2,500 pairs of shoes that required 0.750 nits of material purchased at 10.20 per unit and 6.750 hours of labor at an hourly rate of $8.90 per hour during the month. Actual factory overhead during September was 520,250. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance Price Use the data in the following table to prepare the budget Performance Report for Sole Purpose Shoe Company for September Standard Standard Standard Cost Manufacturing Costs Quantity Per Unit Direct materials $8.40 per unit 3.60 units per pair $10.24 Direct labor $0.50 per hour 2.80 hours per pair 23.80 Factory overhead 70 per hour 2.00 hours per par 7.56 Total standard cost per pair Sole Purpose Shoe Company Budget Performance Report For the Month Ended September 30 Standard Cost at Actual Volume Cost Variante Favorable) Unfavorable Manufacturing Costs Actual Costs Direct materials Factory overhead Total manufacturing costs