Data table - x Static Budget Actual Results (1,000 recliners) (980 recliners) $ 500,000 $ 480,200 52,200 52,216 Sales (1,000 recliners x $500 each) (980 recliners x $490 each) Variable Manufacturing Costs: Direct Materials (6,000 yds @ $8.70 / yd.) (6.143 yds @ $8.50 / yd.) Direct Labor (10,000 DLHr @ $10.50 / DLHR) (9,600 DLHr @ $10.70 / DLHR) Variable Overhead (6,000 yds @ $5.00 / yd.) (6,143 yds @ $6.40/yd.) Fixed Manufacturing Costs: Fixed Overhead 105,000 102.720 30,000 39,315 60,000 62,000 247 200 256,251 Totalcat of Coare Cala Print Done er recl Data table 1 Inc ed de $ 500,000 $ 480,200 52,200 52,216 ers 105,000 Sales (1,000 recliners x $500 each) (980 recliners x $490 each) Variable Manufacturing Costs: Direct Materials (6,000 yds. @ $8.70 / yd.) (6,143 yds @ $8.50/yd.) Direct Labor (10,000 DLHr @ $10.50 / DLHR) (9,600 DL.Hr @ $10.70 / DLHr) Variable Overhead (6,000 yds @ $5.00/yd.) (6,143 yds. @ $6.40 / yd.) Fixed Manufacturing Costs: Fixed Overhead Total Cost of Goods Sold Gross Profit ent 102,720 30,000 C 39.315 a sar ma 60,000 62,000 256,251 hel 247,200 252,800 $ 223,949 Print Done White Recliners manufactures leather lowing selected data Click the icon to view the selecte ndard cost system. Wito allocates overhead based on yards of direct materias The company's performance report in Bad the tots (AC-SC) XAQ ed Manucung Costs (AC-SC) SQ Find Overhead (AQ - SQ) * AC otal Cout of Goods Sold Cross Profit (AQ - SQ) SC Requirement 2. Compute the cost ve Actual FOH - Allocated FOH berians and for direct labor. For manufacturing overhead, compute the variable overhead cont variabile cvechead officken xnd overhead cost and fored overhe Begin with the cost variances, Soloct Actual FOH - Budgeted FOH es for direct materials and direct labor, and idently whether each variance is favorable (F) or unfavorable (Ul. Round y went to the nearest whole dolari al quantity, FOH - foed overhead, SC standard cost: SO standard quantity Budgeted FOH - Allocated FOH Variance Det materials cost variance Direct labor con variance Next compute the efficiency variances Select the required formulas, compute the efficiency variances for droch naturals and direct laborand identify whether each variance in favorable F) or unfavorable Round your answer to the nearest whole do Abbreviations usod AC-actual cost Aadual quantity: FOH fred overhead, SC standard cost SO-standard quantity) Formula Variance Read the requirements Requirement 2. Compute the cost variance and the efficiency variance for direct materials and for det tabor For manufacturing overhead, compute the variable owerhead cost variable overhead officiency fied overhead cost and fixed overhead volume variances Round to the nearest dolar Begin with the cost variances Select the required formulas, compute the cost variances for direct materials and direct labor, and identity whether each variance is favorable (For unfavorable (U). Round you wers to the nearest Whole dollar. Abbreviations used AC = actual cos. A actual quantity, FOH - fred overtoad, SC standard cost 50 standard quantity) Formula Variance Deed als costvarian Dved to cost variance Next compute the ency variances Select the required formas, compute the efficiency variances for direct materials and direct labor, and Identity whether each vanance is favorable (F) or unfonorable (u Round your answers to the nearest whole dollar Abbreviations used: AC = actual cost AD actual Quantity FOH = food overhead, SC standard cost Q - standard quantity Forma Varande Direct mais eficy variance Direct laboreficcy vanance Now compute the variatie overhead cost and licency variances Select the required formos, compute the variable avhad cost and ency varenes, and identity whether each variance is favorable or unfavorable (U) (Round your answers to the nearest whicle Abbreviations Used AC ad cost. AD cal quality, FOHfed overhead, SC - standard cout SO = standard quantity: VOH Nes Read the role Now compute the vale coroad cost and officiency variances Select the required formulas.compute the variable overhead cost and efficiency various and entity whether each variance is favorablo ( or unavorable (Ul. Round your answers to the newest whole dolar Abbreviation used AC - actual cost acha quantity, FOH - ford Overhead, SC standard cont: sQ - standard quantity: VOH variable overhead Formu Variann VOH Covariance VOH efficiency variance Now come the foxed 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 (Round your answers to the newest whol doar Abbreviations AC accost-achlarity, FOHfed overhead: SC standard costs standard cutty) Form Variance TOH cool variano FOH me variance Requirement Hare White managers one a good job or a poor controligators, bond overhead costs? Why? The various compted in Recent set at the managers have done a conting materials and or costsTh Lenovo Vantage wwwwwwwwwwwwwwwww L You have 131 minutes of battery life remaining, please remember to charge your machine FOH volume variance Requirement 3. Have White's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? The variances computed in Requirement suggest that the managers have done a job controlling materials and labor cos The officiency variance help offset the sect labor cost variance and direct materilu eficiency variance Managers have done that of the overhead variances are Requirement Describe now White's managers can benefit from the standard costing som Standard costing to managers do the following direct materials cost variance and direct labor Job controlling overhead costs as evidenced by the Nex