Franklin Company manufactures molded candles that are finished by hand. The company developed the following standards for a new line of drip candles.

Amount of direct materials per candle		2.10	pounds
Price of direct materials per pound	$	0.50
Quantity of labor per unit		1.10	hours
Price of direct labor per hour	$	8.40	/hour
Total budgeted fixed overhead	$	186,000

During Year 2, Franklin planned to produce 30,000 drip candles. Production lagged behind expectations, and it actually produced only 24,000 drip candles. At year-end, direct materials purchased and used amounted to 52,000 pounds at a unit price of $0.47 per pound. Direct labor costs were actually $8.10 per hour and 28,900 actual hours were worked to produce the drip candles. Overhead for the year actually amounted to $151,200. Overhead is applied to products using a predetermined overhead rate based on estimated units.

Required

1. a.&b. Compute the standard cost per candle for direct materials, direct labor, overhead and also the total standard cost for one drip candle.

2. c.&d. Compute the actual cost per candle for direct materials, direct labor, overhead and also the total actual cost per candle.

3. e. Compute the price and usage variances for direct materials and direct labor.

4. f. Compute the fixed cost spending and volume variances.

Complete this question by entering your answers in the tabs below. Reg A and B Reg C and D ReqE Rea F Compute the standard cost per candle for direct materials, direct labor, overhead and also the total standard cost for one drip candle. (Round your answers to 2 decimal places.) Standard Cost cost per unit Direct material Direct labor Overhead Total per candle Complete this question by entering your answers in the tabs below. Reg A and B Reg C and D Reg E Reg Compute the actual cost per candle for direct materials, direct labor, overhead and also the total actual cost per candle. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Cost Actual cast per unit Ditect material Direct labor Overhead Total per candle Complete this question by entering your answers in the tabs below. ando rez Reg A and B Reg C and D Reg E Reg F Compute the price and usage variances for direct materials and direct labor. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Variance COS Direct materials Price variance Usage variance Direct labor Price variance Usage variance Complete this question by entering your answers in the tabs below. Reg A and B Reg C and D ReqE ReqF Compute the fixed cost spending and volume variances, (Indicate the effect of each variance by selecting "" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) Fixed MOH Cost Variance Spending variance Volume variance