Help Save Jordan Manufacturing Company produces a component part of a top secret military communication device. Standard production and cost data for the part, Product X, follow: Planned production Per unit direct materials Per unit direct labor Total estimated fixed overhead costs 25,000 units 3.00 pounds $1.50 per pound 2.20 hours @ $7.50 per hour $560,000 Jordan purchased and used 78,540 pounds of material at an average cost of $1.55 per pound. Labor usage amounted to 53,020 hours at an average of $760 per hour. Actual production amounted to 25,700 units. Actual fixed overhead costs amounted to $604000. The company completed and sold all inventory for $1.910.000. Required a. Prepare a materials variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity b. Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). C. Prepare a labor variance information table showing the standard price, the actual price, the standard hours, and the actual hours d. Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). e. Calculate the predetermined overhead rate, assuming that Jordan uses the number of units as the allocation base. f. Calculate the fixed cost spending and volume variances and indicate whether they are favorable (F) or unfavorable (U). g. Determine the amount of gross margin Jordan would report on the year-end income statement. Complete this question by entering your answers in the tabs below. cute w el wey are lavorable g. Determine the amount of gross margin Jordan would report on the year-end income statement Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G Prepare a materials variance Information table showing the standard price, the actual price, the star actual quantity. (Round "Standard price" and "Actual price" to 2 decimal places.) per pound Materials Variance Information Table Standard price Actual price Standard quantity for flexible budget Actual quantity used per pound pounds pounds red Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorab "None" if there is no effect (.e., zero variance). Round "Price variance" to 2 decimal places.) Price variance Usage variance Required A Required B Required C Required D Required E Required Reg Prepare a labor variance information table showing the standard price, the actual price, the hours. (Round "Standard price" and "Actual price" to 2 decimal places.) Labor Variance Information Table Standard price Actual price Standard hours for flexible budget Actual hours used per hour per hour Required B Required D > Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance). Round "Price variance" to 2 decimal places.) Price variance Usage variance Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G Calculate the predetermined overhead rate, assuming that Jordan uses the number of units as the allocation base. (Round your answer to 2 decimal places.) Predetermined overhead rate per unit Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G Calculate the fixed cost spending and volume variances and indicate whether they are favorable (F) or unfavorable (. (Select "None" if there is no effect (I.e., zero variance)) Spending variance Volume variance Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G Determine the amount of gross margin Jordan would report on the year-end income statement. (Round intermediate calculations to the nearest whole dollar.) Gross margin