Headsound manufactures headphone cases. During September 2018, the company produced and sold 105,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. B Data table Standard Cost Information 00 D Quantity Cost 235 TOO D Direct Materials N Direct Labor Variable Manufacturing Overhead 2 parts 0.02 hours 0.02 hours $0.15 per part 8.00 per hour 9 per hour Fixed Manufacturing Overhead ($30,400 for static budget volume of 95,000 units and 1,900 hours, or $16 per hour) Actual Cost Information R 29% - X direct labor, and identify whether each variance is overhead; SC standard cost; SQ= materials and direct labor, and identify whether each OH = fixed overhead; SC = standard cost; SQ = C=st Direct Materials Direct Labor (209,000 parts @ $0.20 per part) (1.600 hours @$8.10 per hour) $ 41,800 Variable Manufacturing Overhead Fixed Manufacturing Overhead 12.960 11,000 25.000 the fixed overhead cost and volume variances. ariable overhead cost and efficiency variances, and actual quantity: FOH fixed overhead; SC = Print Done Now compare the fixed overhead cost and volume variances. Surect the required fortiores, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or standard quantity.) Requirements ad; SC standard cost; SQ = FOH cost variance FOH volume variance Requirement 3. Headsound's ma Headsound's management knew result in more efficient usage tha 1. Compute the cost and efficiency variances for direct materials and direct labor. 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 3. Headsound's management used better quality materials during September. Discuss the trade-off between the two direct material variances. material variances. They hoped these materials would Print Done Headsound manufactures headphone cases. During September 2018, the company produced and sold 105,000 cases and recorded the following cost data: Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC actual cost; AQ actual quantity; FOH = fixed overhead; SC standard cost; SQ = standard quantity.) Direct materials cost variance Direct labor cost variance Formula Variance Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC actual cost; AQ actual quantity; FOH = fixed overhead; SC standard cost; SQ= standard quantity.) Direct materials efficiency variance Direct labor efficiency variance Formula Variance Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Now compute the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC actual cost; AQ actual quantity; FOH = fixed overhead; SC = standard cost; SQ standard quantity; VOH = variable overhead.) VOH cost variance VOH efficiency variance Formula Variance Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC actual cost; AQ = actual quantity; FOH = fixed overhead; SC standard cost; SQ = standard quantity.) FOH cost variance Formula Variance FOH volume variance Requirement 3. Headsound's management used better quality materials during September. Discuss the trade-off between the two direct material variances. Headsound's management knew that using higher quality materials would result in a(n) They hoped these materials would result in more efficient usage than "standard" materials. The result was an overall