Given Data PA09-05: Page 430 BULLSEYE COMPANY Standard cost information: Standard Quantity Standard Price (rate) Standard Unit Cost Direct costs: Cork board (square feet) 2.5 $ 2.00 5.00 Direct labor (hours) 1.0 $ 14.00 $ 14.00 Variable manufacturing overhead (hours) 1.0 $ 0.50 $ 0.50 Fixed Manufacturing overhead $ 0.25 Actual results for September: Number of units produced and sold Number of square feet of corkboard used Cost of corkboard used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 140,000 360,000 $ 756,000 148,000 $1,938,800 $ 72,000 $ 50,000 Required: Calculate the following for Bullseye: 1. Direct materials price, quantity, and spending variances. 2. Direct labor rate, efficiency, and spending variances. 3. Variable overhead rate, efficiency, and spending variances. Student Name: Class: Page 430 of the textbook Problem 09-05 BULLSEYE COMPANY Requirement 1: Direct Materials Variance AQ x AP AQ X SP Direct Materials Price Variance Try again! Direct Materials Quantity Variance Try again! Total Direct Materials Spending Variance Requirement 2: Direct Labor Variances SQX SP AH x AR AH x SR SH x SR Direct Direct Labor Labor Rate Efficiency Variance Variance Try again! Total Direct Labor Spending Variance Try again! Requirement 3: Variable Overhead Rate & Efficiency Variances Actual Variable Overhead Applied Variable Overhead Cost Cost AH x SR Variable Overhead Variable Overhead Rate Efficiency > Variance Try again! Variance Try again! Total Variance > Over/Underapplied Variable Overhead