Dropdowns are the same I posted for requirement 1 and 2. Reuirement 3 drop down is the same for both parts
SoundSmart manufactures headphone cases. During September 2024, the company produced and sold 105,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC=actual cost; AQ = actual quantity; FOH= fixed overhead; SC= standard cost; SQ= standard quantity.) Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direct materials and direct labor, and identify whether each variance is favorable ( F ) or unfavorable (U). (Abbreviations used: AC= actual cost; AQ= actual quantity; FOH= fixed overhead; SC= standard cost; SQ= standard quantity.) Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 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). quantity; VOH= variable overhead.) 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). (Abbreviations used: AC= actual cost; AQ= actual quantity; FOH= fixed overhead; SC = standard cost; SQ = standard quantity.) Requirement 3. SoundSmart's management used better quality materials during September. Discuss the trade-off between the two direct material variances. SoundSmart's management knew that usina hiaher quality materials would result in a(n) . They hoped these materials would result in more efficient usage than "standard" materials. The result was an overall Data table ed and sold 10 por. isect materials a ce yariances for dire (U). (Abbreviatior hdard quantity.) ancy variances and fived nuerhaad enct and unlume variancoe SoundSmart manufactures headphone (ACSC)AQ and recorded the following cost data: oduced and sold 105 (Click the icon to view the cost data (ACSC)SQ Read the requirements. (AQSQ)AC(AQSQ)SC Requirement 1. Compute the cost and Actual FOH - Allocated FOH ct labor. Begin with the cost variances. Select the for direct materials ar labor, and identify whether each varianc Actual FOH - Budgeted FOH ions used: AC= actua = actual quantity; FOH= fixed overhead ariance Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direc materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviation AC= actual cost; AAQ= actual quantity; FOH= fixed overhead; SC= standard cost; SQ= standard quantity.) cost and volume variances, and identify whethe AC= actual cost; AQ= actual quantity; FOH=fi favorable direct material cost variance favorable direct material flexible budget variance Requirement 3. SoundSmart's management us between the two direct material variances. unfavorable direct labor flexible budget variance unfavorable direct material flexible budget variance "standard" materials. The result was an overall
