Colden Hopkins is a cost accountant and business analyst for Dashing Design Company (DDC), which manufactures expensive brass doorknobs DDC uses two direct cost categones direct materials and direct manufacturing labor Hopkins feels that manufacturing overhead is most closely related to materal usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used Click the icon to view the standards) Click the icon to view the actual results for Apr Read the resurements Requirement 1. For the month of Apel, compute the variances, indicating whether oach is favorable (F) or unfavorable (U) Before computing the variances complete the tables below. Begin by completing the table for direct materials Actual Input Qty. Budgeted Price Actual Costs incurred Purchases Direct materials Flexible Usage Budget Data table Data table Actual results for April 2020 were as follows: Production Direct materials purchased Direct materials used Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead. 26,000 doorknobs 12.100 lb, at $11/b 7,000 lbs 29,000 hours for $502.000 $64,200 $155,000 At the beginning of 2020, DDC budgeted annual production of 410,000 doorknobs and adopted the following standards for each doorknob Direct materials (brass) Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Standard cost per doorknob Input 0.3 lb at $10b 12 hours at $15/hour. Cost/Doorknob $ 3.00 18.00 $4b-03b 120 $14b03b 4.20 S 26.40 Requirements 1. For the month of April, compute the following variances, indicating whether each is favorable (F) or unfavorable (U). a. Direct materials price variance (based on purchases) b. Direct materials efficiency variance c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Variable manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. Production-volume variance h. Fixed manufacturing overhead spending variance 2. Can Hopkins use any of the variances to help explain any of the other variances? Give examples. - X