Haliburton Mills Inc. is a large producer of men's and women's clothing. The company uses standard costs for all of its products. The

standard costs and actual costs for a recent period are given below for one of the company's product lines $($per unit of product$)$:

Actual costs: $5,000$ units $at$ $$43\mathrm{.}23,$$$216,150$

Standard costs: $5,000$ units $at$ $$43\mathrm{.}60,218,000$

During this period, the company produced $5,000$ units of product. A comparison of standard and actual costs for the period on a total

cost basis is also given above.

There was no inventory of materials on hand to start the period. During the period, $21,000$ metres of materials was purchased and

used in production. The denominator level of activity for the period was $11,200$ hours.

Required:

For direct materials:

a$.$ Compute the price and quantity variances for the period. $($Indicate the effect of each variance by selecting $"$F$"$ for favourable, $"$U$"$

for unfavourable, and "None" for no effect $($i$.$e$.,$ zero variance$).)$

Answer is not complete.

b$.$ Prepare journal entries to record all activity relating to direct materials for the period.

Answer is not complete.

For direct labour:

a$.$ Compute the rate and efficiency variances. $($Indicate the effect of variance by selecting $"$F$"$ for favourable, $"$U$"$ for unfavourable,

and "None" for no effect $($i$.$e$.,$ zero variance$).)$

Answer is not complete.

b$.$ Prepare a journal entry to record the incurrence of direct labour cost for the period. $($List debit entries first$).$

Answer is not complete.