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A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 5 lbs. @ $7 per lb. 3 hrs. @ $16 per hr. 3 hrs. & $12 per hr. Actual 36,900 lbs. @ $7.20 per lb. 21,700 hrs. @ $16.60 per hr. $268,000 7,300 (1) Compute the standard cost per unit. (2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the standard cost per unit. Direct materials Direct labor Overhead Total A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 5 lbs. @ $7 per lb. 3 hrs. $16 per hr. 3 hrs. @ $12 per hr. Actual 36,900 lbs. @ $7.20 per lb. 21,700 hrs. @ $16.60 per hr. $268,000 7,300 1) Compute the standard cost per unit. 2) Compute the total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total cost variance for June. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Total cost variance Direct materials Direct labor Overhead Units manufactured Standard 5 lbs. @ $7 per 1b. 3 hrs. $16 per hr. 3 hrs. @ $12 per hr. Actual 36,900 lbs. @ $7.20 per lb. 21,700 hrs. e $16.60 per hr. $268,000 7,300 Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ - Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Standard Cost Direct materials Direct labor Overhead Units manufactured Standard 5 lbs. $7 per lb. 3 hrs. e $16 per hr. 3 hrs. $12 per hr. Actual 36,900 lbs. @ $7.20 per lb. 21,700 hrs. $16.60 per hr. $268.000 7,300 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH - Standard Hours AR = Actual Rate SR = Standard Rate Actual Cost + Standard Cost Hutto Corp, has set the following standard direct materials and direct labor costs per unit for the product it manufactures. Direct materials (15 lbs. $4 per 1b.) Direct labor (3 hrs. $15 per hr.) $60 45 During May the company incurred the following actual costs to produce 8,800 units. Direct materials (135,300 lbs. $3.80 per 1b.) Direct labor (31,100 hrs. $15.10 per hr.). $514,140 469,610 es AH = Actual Hours SH - Standard Hours AR - Actual Rate SR = Standard Rate AQActual Quantity SQ - Standard Quantity AP - Actual Price SP Standard Price (1) Compute the direct materials price and quantity variances (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) (2) Compute the direct labor rate variance and the direct labor efficiency variance.(Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour answers to 2 decimal places.) World Company expects to operate at 80% of its productive capacity of 51.250 units per month. At this planned level, the company expects to use 24,600 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.600 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $51,660 fixed overhead cost and $273,060 variable overhead cost. In the current month, the company incurred $306,000 actual overhead and 21,600 actual labor hours while producing 35,000 units. (1) Compute the overhead volume variance Classify each as favorable or unfavorable. (2) Compute the overhead controllable variance. Classify each as favorable or unfavorable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the overhead volume variance Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, un orable, and no variance. Round "OH costs per DL hour" to 2 decimal places.) Fixed Overhead Applied Fixed overhead applied Volume Variance Volume variance