Hello I am having some difficulties with the attached problem. I was able to complete requirement 1 and would like someone to look over my work for it as well as help me with the other requirements. Along with the attachment of the problem I need help with I have attached the solution to the requirement I was able to complete as well as the formates that I am required to use for requirements 2 and 3.

Thank you,

Epeck4

Case 6: SmartSound manufactures headphone cases. During September 2017, the company produced and sold 105,000 cases and recorded the following cost data: Requirements 1. Compute the price and efficiency variances for direct materials and direct labor. 2. For manufacturing overhead, compute the total variance, the flexible budget variance, and the production volume variance. 3. Prepare a standard cost income statement through gross profit to report all variances to management. The sale price of the headset cases was $1.50 each. 4. Have SmartSound's managers done a good job or a poor job controlling materials and labor costs? Why? 5. SmartSound's management used more-experienced workers during September. Discuss the trade-off between the two direct labor variances. 1) Price and Efficiency Variances for Direct Materia Actual Price Variance Direct Materials 47,000 (235,000*.20) 11,750 U Direct Labor 15,555 (1,700 hrs * 9.15) 255 U Flexable Budget Variance = 15,500 U Manufacturing overhead, Total variance 2) Actual Spending variance Actual Spending and Flex bud variance Variable Manufacturing Overhead Fixed Manufacturing Overhead 3) Standard Cost Income Statement Smartsound Standard Cost Income Statement Month Ended September 30, 2017 Sales revenue (units @ $) Cost of goods sold at standard cost (units x $) Manufacturing cost variances: Direct materials price variance Direct materials efficiency variance Direct labor price variance Direct labor efficiency variance Overhead flexible budget variance Production volume variance Total manufacturing cost variances Cost of goods sold at actual cost (5+13) Gross profit Show unfavorable variances as negatives 4) 5) $xxx $xxx $xxx $xxx $xxx $xxx $xxx $xxx $xxx $xxx $xxx y Variances for Direct Materials and Direct Labor Actual quantity of Efficiency DM X Budget Price Variance Flex Budget 35,250 (235,000*.15) 3,750 F 31,500 (210,000*.15) (210,000 = 105,000 number of cases produced * 2 parts) 15,300 (1,700 * 9.00) 3,600 F 18,900 (2,100* 9.00) (2,100 = 105,000*.02) Variance = 15,500 U overhead, Total variance, Flexible budget variance, and Production volume variance Actual quantity x Efficiency budget price variance Flexable budget Production Flex bud (same as volume static budget) variance Actual qty x budget price = 105,000 number of cases produced * 2 parts) 05,000*.02) me variance