Data Table Static Budget (1,000 recliners) Actual Results (980 recliners) Sales (1,000 recliners x $ 505 each) $ 505,000 (980 recliners x S 480 each) 470,400 Variable Manufacturing Costs: (6,000 yds. @ $ 8.60 /yd.) (6.143 yds. @ s 840 /yd) (10,000 DLHr@ $ 940 / DLHr) (9,600 DLHr $ 9.50/DLHr) (6000 yds. @ s 5.00 lyd.) (6.143 yds. 6.40 /yd) Direct Materials 51,600 51,601 Direct Labor 94,000 91,200 Variable Overhead 30,000 39,315 Print l Done Data Table direct m ers man 's perfo a icon to ireme Varablo Manufacturing Costs 6,000 yds. $ 8.60 /yd) 6,143 yds. $ 8.40 /yd) 10,000 DLHr$9.40 /DLH) (9,600 DLHr9.50/DLH) (6,000 yds. s 500/yd) (6.143 yds. 6.40 /yd) Direct Materials 51,600 51,601 Recline ue ufactur Direct Labor 94,000 91,200 Variable Overhead 30,000 39,315 Fixed Manufacturing Costs Overhe acturing erhead Goods any lis Fixed Overhead Total Cost of Goods Sold Gross Profit 60,000 235,600 269,400 S 62,000 244,116 226,284 Print Done White Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. White allocates overhead b The company's performance report includes the following selected data Click the icon to view the selected data.) Read the requirements variances variance is favorable(F) or unfavorable U Round your answers to the nearest whole dollar Abbreviations used: AC = actual cost AQ fixed overhead; SC standard cost, SQ standard quantity ) actual quantity: FOH : Formula s e variance Direct labor efficiency variance Now compute the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round your answers to the nearest whole dollar. Abbreviations used: AC actual cost, AQ actual quantity: FOH fixed overhead, SC standard cost SQ standard quantity: VOH variable overhead) Formula Variance White Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. White allocates overhead based on yards of direct materials E compare s performance report includes the following selected data (Click the icon to view the selected data) Read the requirements. Formula VOH cost variance VOH efficiency variance Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round your answers to the nearest whole dollar actual quantity, FOH fixed overhead, SC- standard cost, SQ standard quantity) used AC actual cost AQ FOH cost variance FOH volume variance lahne Choose from any list or enter any number in the input fields and then continue to the next question The c Read the requirements Requirement 4. Describe how White's managers can benefit from the standard costing system. Standard costing helps managers do the following
