END SM Oo. Budget vs. PPR for Yr. 1 X Sturdy Manufacturing Co, Budget vs, Plan Performance Report for Year 1 Sturdy Manufacturing Co. EXHIBITS 4 88 alose all Budget vs. Plan Performance Report for Year 1 exhibits SM Co. DM & Labor (Unage) Yo 1 (5000s) Budget SM Co. Mig. OH Variance Yr 1 Actual Net revenue $260.000 3248.000 Variable expenses 156.000 148.800 SM Co. DM & Labor (Usage) Yr. 1 The management of Sturdy Manufacturing Co. is reviewing its operating performance for Year 1. In order to complete its tactical Fixed costs 39.000 37.500 Operating Income 65,000 61,700 production plan for the fiscal year, the accounting and production departments are preparing variance analysis reports for operating performance, direct materials, direct labor, and manufacturing overhead. Sturdy Manufacturing Co. Direct Material and Labor (Usage) for Year 1 Using the information Included in the exhibits above, complete the tables below Direct Materials Actual quantity purchased 750,000 units Table 1: For each item in column A, determine whether the budget vo, plan variance was "Favorable" or "Unfavorable" by selecting Actual quantity used 720.000 units from the option list provided in column B. Units standard quantity 700,000 units Actual price paid $75.00 per unit Standard price $78.00 per unit Net revenue Direct Labor Actual hours worked 2.825,000 Variable expenses Standard hours 3,000 060 Actual paid rate 522.50 3 Fixed costs Standard rate $20.00 SM Co. Mig. OH Variance Yr. 1 Operating Income Number of Cabinets Table 2: For each variance in column A, indicate the absolute value of the dollar amount of the variance in column B and indicate Budgeted number of cabinet to be whether the variance was "Favorable" or "Unlavorable" from the option list provided in column C. produced 150,000 Actual number of cabinets produced 141,250 Labor Hours Direct materials (DM) price variance Standard labor hours required per cabinet 21 Direct materials (DM) quantity usage variance Standard labor. hours por actual 2,966,250 production Direct labor rate variance Actual labor hours used 2,825,000 Direct labor efficiency variance Variable Overhead (VOH) Standard VOH rate per hour $10.00 per hour Variable overhead rate (spending) variance Actual VOH rate par hour 59.50 per hour Fixed overhead (FOH) volume variance Fixed Overhead (FOR)