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hello, can you help on this please In December of Year 2 operations (month 24), Memories, Inc. actually produced and sold 32,675 figurines, consisting of

hello, can you help on this please

In December of Year 2 operations (month 24), Memories, Inc. actually produced and sold 32,675 figurines, consisting of 30,570 dolls and 2,105 replicas. The budgeted sales price for dolls was $5.00, and $5.25 for replicas. The estimated production and sales during December was 31,678 dolls and 2,595 replicas. Required: A. Compute the price and volume variances for sales, assuming that MI sold all figurines produced for $137,565 (dolls) and $9,051 (replicas). What might explain these variances? B. Compute the price and quantity variances for direct materials for each type of figurine. MI paid $29,093 to purchase 32,325 units of raw materials for dolls and $1,453 to purchase 2,401 units of raw materials for replicas. (A unit consists of plastic, molds, varnish, paint, and packaging materials.) From the materials purchased, 30,995 units were used to produce the dolls and 2,149 were used to produce the replicas. How would these variances be interpreted? What might have caused them? Would you consider them large enough to be important? C. Compute the labor rate and efficiency variances for each type of figurine. MI paid $71,350 in labor costs for 7,150 direct labor hours for dolls and $6,425 in labor costs for 650 direct labor hours for replicas. How would these variances be interpreted? What might have caused them? Would you consider them large enough to be important? D. Assuming MI used a predetermined overhead rate of $2.13 per DLH, compute the variable overhead rate and efficiency variances. MI actually paid $20,852 in total overhead costs, consisting of $17,002 of variable overhead and $3,850 of fixed overhead. How would these variances be interpreted? What might have caused them? Would you consider them large enough to be important? E. How might MI extend its variance analysis to be compatible with activity-based costing if they decided to switch to that method?

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