Gibson Fruit Drink Company planned to make $203,000$ containers of apple juice. It expected to use two cups of frozen apple

concentrate to make each container of juice, thus using $406,000$ cups of frozen concentrate. The standard price of one cup of apple

concentrate is $$0\mathrm{.}24.$ Gibson actually paid $$115,954$ to purchase $414,120$ cups of concentrate, which was used to make $204,000$

containers of apple juice.

Required:

b$.$ Compute the actual price per cup of concentrate.

Note: Round your answer to $2$ decimal places.

c$.$ Compute the standard quantity $($number of cups of concentrate$)$ required to produce the containers.

d$.$ Compute the materials price variance and indicate whether it is favorable $($F$)$ or unfavorable $($U$).$

Note: Select "None" if there is no effect $($i$.$e$.,$ zero variance$).$ Round "Price variance" to $2$ decimal places.

e$.$ Compute the materials usage variance and indicate whether it is favorable $($F$)$ or unfavorable $($U$).$

Note: Select "None" if there is no effect $($i$.$e$.,$ zero variance$).$ Round "Usage variance" to $2$ decimal places. Adams Company established a predetermined variable overhead cost rate at $$17\mathrm{.}50$

per direct labor hour. The actual variable overhead cost rate was $$15\mathrm{.}80$ per hour.

The planned level of labor activity was $76,475$ hours of labor. The company actually

used $80,500$ hours of labor.

Required

a$.$ Determine the total flexible budget variable overhead cost variance and indicate

the effect of the variance by selecting favorable $($F$)$ or unfavorable $($U$).$

Note: Select "None" if there is no effect $($i$.$e$.,$ zero variance$).$