Grand Display is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials) First determine the formula for the price variance, then compute the price variance direct materials. = DM price variance Grand Display is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) pe unfounable / Abbreviations used: DM - Direct materiale X First determine the formula for the price variance, then comput Standards Direct materials (resin) Direct labor Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate. 14 pounds per pot at a cost of $4.00 per ..pound .3.0 hours at a cost of $15.00 per hour ...52.00 per direct labor hour S30,200 ... 56.00 per direct labor hour (DLH) Print Done Grand Display is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements - Requirement 1. Compute the direct material price variance an to the nearest whole dollar. Label the variance as favorable (F) Actual results to the nearest cent and then round the final variance amount First determine the formula for the price variance, then comput Grand Display allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1.900 flower pots: Purchased 27,870 pounds at a cost of $4.20 per pound Direct materials used 27.170 pounds to produce 1,900 pots Worked 3.3 hours per flower pot (6,270 total DLH) at a Direct labore cost of $14.00 per hour Actual variable manufacturing $2.70 per direct labor hour for total actual variable overhead ........................ manufacturing overhead of $16,929 Actual fixed manufacturing overhead $30,000 Standard fixed manufacturing overhead allocated based on actual production $34,200 Print Done Grand Display is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements x to the nearest cent and then round the final variance amount Requirement 1. Compute the direct material price variance an to the nearest whole dollar. Label the variance as favorable (F) Actual results First determine the formula for the price variance, then comput - X Requirements 1. Compute the direct material price variance and the direct material quantity variance. 2. Who is generally responsible for each variance? 3. Interpret the variances. Print Done Print Done
