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Print by: Pamala Lambert ACCT2302.20200316.596308 BL-Principles of Managerial Acet-03/16/20/ Chapter 24 Graded Homework * Problem 24-03A a-b (Video) Whispering Clothiers is a small company that manufactures tall men's suits. The company has used a standard cost accounting systern. In May 2020, 10,100 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14,000 direct labor hours. All materials purchased were used Cost Element Standard (per unit) AP AQ ActualAR Direct materials 7 yards at $4,20 per yard SUS $292,330 for 71,300 yards ($4.10 per yard) Direct labor 1.10 hours at $14.00 per hour SW 1 $167,453 for 11,710 hours ($14.30 per hour) Overhead 1.10 hours at $6.30 per hour (Fored $3.50; variable $2.80) $48,900 foed overhead $37,500 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $49,000, and budgeted variable Overhead was $39,200 Compute the total price and quantity variances for (1) materials and (2) labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to decimal places. e. 52.) 1.) (AQUAP) - (5QXSP) (1) 1.) Total materials variance (71300 X 4.0- 1004 242330- -2400 2) Material price variance , 7130 favorable ! 249910 WRON 3) Materiais quantity variance unfavorable , (2) 4)Total Labor variance 11913 2) AQXAP)-AQXSP) unfavorable (1300X4.10) - 11300* 4.20 5) Labor price variance 3513 unfavorable : 292350 - 299 400 Labor quantity variance 8400 un favorable : 3.) (AQXSP)-(SQ XSP) Compute the total overhead variance (71300 x 4.20) -(1000X 4.20 299460 - 42420 Total overhead variance 257040 wrong Actual ot-OH Budgeted Question Attempts: 0 of 3 used 48900 +37500 )-(49.000 + 39200) 86400 - 58200 = -1800 wrong -7130 6. (AHXSR) - (SHXSR) (1710 x 14) - (inox 14) 163940 - 155540 8400 4.) (AHXAR) - (SHXSR) (11710 X14.30) -(HUO *14) 167453 - 155540 11913 5.)CAH XAR)-CAH XSR) (11710 X 14.30-11710x 14) 167453 - 163940 3513