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Cityscapes is a manufacturer of large flower pots for urban settings. The company has the following standard costs: Standard Hours or Quantity Standard Rate or

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Cityscapes is a manufacturer of large flower pots for urban settings. The company has the following standard costs: Standard Hours or Quantity Standard Rate or Price Direct materials 15 pounds per pot $5.00 per pound Direct labor 2.0 hours $ 13.00 per hour Variable overhead 2.0 hours $6.00 per hour Last month, the company produced 1.900 flower pots using 29,830 pounds of the direct material and 4,560 direct labor-hours. During the month the company purchased 30,230 pounds of the direct material at a price of $5.20 per pound. The actual direct labor rate was $12.00 per hour and the actual variable overhead rate was $6.20 per direct labor hour. The materials price variance is computed when materials are purchased. Variable overhead is applied on the basis of direct labor-hours. Compute the variances below. Enter the amount with no dollar sign and using a comma. Label the variance as favorable (F) or unfavorable (U) by capitalizing the first letter of the variance after the amount (Example: 1,000 F). 1. Compute the materials price variance. 2. Compute the materials quantity variance. 3. Compute the labor rate variance. 4. Compute the labor efficiency variance. 5. Compute the variable overhead rate variance. 6. Compute the variable overhead efficiency variance

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