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Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been

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Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: During August, 9,310 hours of direct labor time were needed to make 19,000 units of the Jogging Mate The direct labor cost totaled $52,136 for the month. Required: 1. What is the standard labor-hours allowed (SH) to makes 19,000 Jogging Mates? 2. What is the standard labor cost allowed (SH SR) to make 19,000 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manufacturing overhead rate is $4.30 per direct labor-hour. During August, the company incurred $42,826 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month. (For requirements 3 through 5 , indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive volues. Do not round intermediate calculations.) Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: During August, 9,310 hours of direct labor time were needed to make 19,000 units of the Jogging Mate The direct labor cost totaled $52,136 for the month. Required: 1. What is the standard labor-hours allowed (SH) to makes 19,000 Jogging Mates? 2. What is the standard labor cost allowed (SH SR) to make 19,000 Jogging Mates? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? 5. The budgeted variable manufacturing overhead rate is $4.30 per direct labor-hour. During August, the company incurred $42,826 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month. (For requirements 3 through 5 , indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive volues. Do not round intermediate calculations.)

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