Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 18,000 toy action figures to be manufactured in June at standard direct materlals and direct labor costs as follows: Direct materials $21,600 Direct labor 10,800 Total $32,400 The standard materials price is $0.60 per pound. The standard direct labor rate is $12.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Actual direct materials $20,000 Actual direct labor 10,000 Total $30,000 There were no direct materials price or direct labor rate variances for June. In addition, assume no changes in the direct materials inventory balances in June. Kimber Toy Company actually produced 16,200 units during June Determine the direct materials quantity and direct labor time variances. Round your per unit computations to two decimal places, if required. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Direct materials quantity variance Direct labor time variance Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 8,000 hours of productive capacity in the department Variable overhead cost: Indirect factory labor $57,600 Power and light 2,240 Indirect materials 23,200 Total variable overhead cost $83,040 Fixed overhead cost Supervisory salaries $29,060 Depreciation of plant and equipment 18,270 Insurance and property taxes 11,630 Total fixed overhead cost 58,960 Total factory overhead cost $142,000 Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 6,000, 8,000, and 10,000 hours of production. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers Leno Manufacturing Company Factory Overhead Cost Budget-Press Department For the Month Ended November 30 Direct labor hours 6,000 8,000 10,000 Previous Next Check My Work 2 more Check My Work uses remaining Insurance and property taxes 11,630 Total fixed overhead cost 58,960 Total factory overhead cost $142,000 Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 6,000, 8,000, and 10,000 hours of production, Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers Leno Manufacturing Company Factory Overhead Cost Budget Press Department For the Month Ended November 30 Direct labor hours 6,000 8,000 10,000 Variable overhead cost: Indirect factory labor Power and light Indirect materials Total variable factory overhead Fbxed factory overhead cost: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed factory overhead Total factory overhead cost Previous Next Check My Work 2 more Chock My Work uses remaining elook Calculator Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 4,000 computers: Actual: Variable factory overhead $176,500 Fixed factory overhead 39,000 Standard: 4,000 hrs. at $52 208,000 If productive capacity of 100 % was 6,000 hours and the total factory overhead cost budgeted at the level of 4,000 standard hours was $221,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The foxed factory overhead rate was $6.5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Variance Amount Favorable/Unfavorable Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance