Homework: Chapter 11 Homework Assignment Save Score: 0 of 2 pts 3 of 8 (2 complete) E11-28A (book/static) Question Help Ccuntry Desigris is a manufacturer of large lower pols for urban settins. The conpany has these staridards: (Click the lcon ta view the standards.) [Click the icon to view the actual results.) 1. Compute the direct material price variance and the direct material quartity variance. 2. Who is goneraly responsible for ach variarce? 3. Interpre the variances. i Actual Resuits the final variance amount to the nearest Requirement 1, Compute the direct material price vanance and the drect matenal quantity waiance. whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct me! First detemine the formula for the price variance, then compute the price variance for direct materials. Country Designs allocated fixed manufacturirg overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the producticn of 1,300 flower pots: Purchased 18,510 pcunds at a cost of $1.50 per pound; used 17,810 pounds to prcduce 1,300 pots worked 4.5 hours per flower pot(5,850 lolal DLH) al a cosl of $16.00 por hour Direct materials Direct labor Direct materials (resin) 13 pounds per pot at a cost of $4C0 per pound Actual variable manufecturing overhead.... . $720 per cirect labor hour for total Direc labo 40 hours at a cost of $1700 per hour clual vriab ot S42,120 $49,500 manufacturing overhead Standard variable manufacturing $7.00 per diret labor hour $50,000 10,00 per direct laber hour LH Actual fixed manufacturing overhead Standard hxed manutacturing overhead allocated based actual production Budgeted toxed manufacturing overheed Standard fxed MOH rate S52,000 Print Done Check Answer Print Done 11:10 AM E 112/2017 24 Type here to search