Colden Hopkins is a cost accountant and business analyst for Dandy Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Hopkins feels that manufacturing overhead is most closely related to material 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 April.) Read the requirements At the beginning of 2020, DDC budgeted annual production of 440,000 doorknobs and adopted the following standards for each doorknob: Input Cost/Doorknob Direct materials (brass) 0.3 lb. at $8/1b. $ 2.40 Direct manufacturing labor 1.2 hours at $15/hour 18.00 Variable manufacturing overhead $4/1b *0.3 lb. 1.20 4.20 Fixed manufacturing overhead $14/lb. 0.3 lb. 25.80 Standard cost per doorknob $ Actual results for April 2020 were as follows: Production 26,000 doorknobs Direct materials purchased 12,300 lb. at $10/1b. Direct materials used 7,500 lbs. Direct manufacturing labor 29,500 hours for $649,000 Variable manufacturing overhead $64,200 Fixed manufacturing overhead $ 160,000 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