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During September of the current year, the controller was asked to perform variance analyses for August. The January operating data provided the standard prices, rates,

During September of the current year, the controller was asked to perform variance analyses for August. The January operating data provided the standard prices, rates, times, and quantities per case. There were 1,500 actual cases produced during August, which was 250 more cases than planned at the beginning of the month. Actual data for August were as follows: Actual Direct Materials Price per Unit Actual Direct Materials Quantity per Case Cream base $0.016 per oz. 102 ozs. Natural oils $0.32 per oz. 31 ozs. Bottle (8-oz.) $0.42 per bottle 12.5 bottles Actual Direct Labor Rate Actual Direct Labor Time per Case Mixing $18.20 19.50 min. Filling 14.00 5.60 min. Actual variable overhead $305.00 Normal volume 1,600 cases The prices of the materials were different from standard due to fluctuations in market prices. The standard quantity of materials used per case was an ideal standard. The Mixing Department used a higher grade labor classification during the month, thus causing the actual labor rate to exceed standard. The Filling Department used a lower grade labor classification during the month, thus causing the actual labor rate to be less than standard. Required: 10. Determine and interpret the direct materials price and quantity variances for the three materials. Enter the costs in dollars and cents (carried to three decimal places when required). Enter all amounts as positive numbers. Direct Materials Price Variance: Cream Base Natural Oils Bottles Actual price $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Standard price fill in the blank 4 fill in the blank 5 fill in the blank 6 Difference $fill in the blank 7 $fill in the blank 8 $fill in the blank 9 Actual quantity (units) fill in the blank 10 oz. fill in the blank 11 oz. fill in the blank 12 btls. Direct materials price variance $fill in the blank 13 $fill in the blank 14 $fill in the blank 15 Indicate if favorable or unfavorable

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