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Flexible Budgets and Standa P23-28A Computing standard cost variances and repo rting to management Learning HearSmart manufactures headphone cases. During September 2014, the company produced

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Flexible Budgets and Standa P23-28A Computing standard cost variances and repo rting to management Learning HearSmart manufactures headphone cases. During September 2014, the company produced and sold 107,000 cases and recorded the following cost data: Standard Cost Information Quantity Price 2 parts $0.16 per part 0.02 hours 8.00 per hour Direct Materials Direct Labor Variable Manufacturing Overhead 0.02 hours 9.00 per hour Fixed Manufacturing Overhead ($32,980 for static budget volume of 97,000 units and 1,940 hours, or $17 per hour) Actual Cost Information Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead (210,000 parts@$0.21 per part) (1,640 hours @$8.15 per hour) $44,100 13,366 8,000 30,000 Requirements 1. Compute the cost and efficiency variances for direct materials and direct labor

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