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

Denominator activity (direct labor-hours) 16,000 Variable manufacturing overhead cost $ 55,200 Fixed manufacturing overhead cost $ 146,400

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

Direct materials, 4 yards at $2.25 per yard $ 9.00 Direct labor, 2 hour at $9.00 per hour 18.00 Manufacturing overhead, 140% of direct labor cost 25.20 Standard cost per unit $ 52.20

During the year, the company produced 8,320 units of product and incurred the following costs:

Materials purchased, 52,800 yards at $2.15 per yard $ 113,520 Materials used in production (in yards) 34,300 Direct labor cost incurred, 17,000 hours at $8.25 per hour $ 140,250 Variable manufacturing overhead cost incurred $ 55,100 Fixed manufacturing overhead cost incurred $ 111,350

Required: 1. Redo the standard cost card in a clearer, more usable format by detailing the variable and fixed overhead cost elements. (Round your answers to 2 decimal places.)

2. Prepare an analysis of the variances for direct materials and direct labor for the year. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.).)

3. Prepare an analysis of the variances for variable and fixed overhead for the year. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.).)