Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor-hours. The following data are taken from the companys planning budget for the current year:

The standard cost card for the companys only product is given below:

During the year, the company produced 7,280 units of product and incurred the following actual results:

Required:

1. Create a new standard cost card that separates the variable manufacturing overhead per unit and the fixed manufacturing overhead per unit.

2. Compute the materials price and quantity variances. Also, compute the labor rate and efficiency variances.

3. Compute the variable overhead rate and efficiency variances. Also, compute the fixed overhead budget and volume variances.

Denominator activity (direct labor-hours) Variable manufacturing overhead cost Fixed manufacturing overhead cost 14,000 $ 49,700 $ 97,300 Inputs Direct materials Direct labor Manufacturing overhead Total standard cost per unit (1) Standard Quantity or Hours 4 yards 2 hours 2 hours (2) Standard Price or Rate $ 2.35 per yard $ 8.75 per hour $10.50 per hour Standard Cost (1) X (2) $ 9.40 17.50 21.00 $ 47.90 Materials purchased, 46,200 yards at $2.25 per yard Materials used in production (in yards) Direct labor cost incurred, 15,000 hours at $8.35 per hour Variable manufacturing overhead cost incurred Fixed manufacturing overhead cost incurred $ 103,950 30,030 $ 125,250 $ 50,100 $ 99,750 Required 1 Required 2 Required 3 Create a new standard cost card that separates the variable manufacturing overhead per unit and the fixed manufacturing overhead per unit. (Round your answers to 2 decimal places.) Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Standard cost per unit yards at DLHS DLHS per yard per DLH per DLH DLHs per DLH Required 1 Required 2 Required 3 Compute the materials price and quantity variances. Also, compute the labor rate and efficiency variances. (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 values.) Materials variances: Price variance Quantity variance Labor variances: Rate variance Efficiency variance Required 1 Required 2 Required 3 Compute the variable overhead rate and efficiency variances. Also, compute the fixed overhead budget and volume variances. (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 values.) Variable overhead variances: Rate variance Efficiency variance Fixed overhead variances: Budget variance Volume variance