Coronado Sports sells volleyball kits that it purchases from a sports equipment distributor. The following static budget based on sales of 1,880 kits was prepared for the year. Fixed operating expenses account for 75% of total operating expenses at this level of sales. Sales Cost of goods sold (all variable) Gross margin Operating expenses Operating income $ 94,000 56,400 37,600 32.900 $ 4,700 Assume that Coronado Sports actually sold 1,974 volleyball kits during the year at a price of $45 per kit. Calculate the sales volume variance for sales revenue and cost of goods sold. (If variance is zero, select "Not Applicable" and enter for the amounts.) Flexible Budget Sales Volume Variance Static Budget 1974 94 Favorable $ 88830 $ 1468.75 Favorable $ 94 Unit Sales Sales revenue Cost of goods sold 59220 3231.25 Unfavorable 6462 Crane produces 8-foot USB cables. During the past year, the company purchased 57,230,000 feet of plastic-coated wire at a price of $0.24 per foot. The direct materials standard for the cables allows 8.58 feet of wire at a standard price of $0.22. During the year, the company used a total of 534,790 feet of wire to produce 69,000 8-foot cables. Calculate Crane direct materials quantity variance for the year. (Round answer to decimal places, eg. 125. If variance is zero, select "Not Applicable and enter for the amounts.) $ Direct material quantity variance Concord, Inc. makes high-quality swimsuits. During the year, the company produced 790 suits, using 983 yards of material, and the company purchased 881 yards of material for $4,580. The direct materials standard for the swimsuits allows 1.20 yards of material at a standard price of $6 per yard. Calculate Concord's direct materials quantity variance for the year. (If variance is zero, select "Not Applicable" and enter for the amounts. Round answer to decimal places, eg. 15.) $ Direct material quantity variance Sheffield Products embosses notebooks with school and corporate logos. Last year, the company's direct labor payroll totaled $271,700 for 49,400 direct labor hours. The standard wage rate is $5.15 per direct labor hour. Calculate Sheffield's direct labor rate variance. (Round answer to decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter for the amounts.) Direct labor rate variance The following information is available for Vaughn's Chocolates: Actual production Budgeted production 2,810 boxes 3,710 boxes Direct Materials Standard Actual 1.5 pounds of chocolate per box @ $8.02 per pound 6,520 pounds purchased @ $7.66 per pound 4,525 pounds used @ $7.66 per pound (a) Calculate the direct materials price and quantity variances. (Round answers to decimal places, eg, 125. If variance is zero, select "Not Applicable" and enter for the amounts.) $ Direct material price variance $ Direct material quantity variance Crane Paints manufactures artist's oil paints. Each 40 ml tube of paint requires 5 minutes of direct labor, and the standard labor rate is $8.01 per direct labor hour. In September, Crane incurred 11,230 direct labor hours at a cost of $87,000 to produce 134,300 tubes of paint Calculate Crane's direct labor rate variance for September. (Round answer to decimal places, eg 125. If variance is zero, select "Not Applicable" and enter for the amounts.) Direct labor rate variance Sheridan Incasements manufactures protective cases for MP3 players. During November, the company's workers clocked 720 more direct labor hours than the flexible budget amount of 25,260 hours to complete 103,700 cases for the Christmas season. All workers were paid $8.51 per hour, which was $0.55 more than the standard wage rate. Calculate Sheridan's direct labor efficiency variance. (If variance is zero, select "Not Applicable and enter for the amounts.) Direct labor efficiency variance