Homework: HW #10 - Chapter 11 Score: 0 of 1 pt 9 of 10 ( com E11-28A (similar to) Center Ware is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards) (Click the icon to view the actual results.) Read the requirements. Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive nearest whole dollar. Label the variance as favorable (F) or unfavorable (U) Abbreviations used: DM - Direct materials) First determine the formula for the price variance, then compute the price variance for direct materials DM price variance Requirements 1. Compute the direct material price variance and the direct material quantity variance 2. Who is generally responsible for each variance? 3. Interpret the variances. Print Done Read the requirements Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive num nearest whole dollar. Label the vanance as favorable (F) or unfavorable (U), Abbreviations used: DM - Direct materials) First determine the formula for the price variance, then compute the price variance for direct materials. ) DM price variance - X Standards 14 pounds per pot at a cost of $5.00 per Direct materials (resin) pound Direct labor... 4.0 hours at a cost of $21.00 per hour Standard variable manufacturing overhead rate..... $4.00 per direct labor hour Budgeted fixed manufacturing overhead. $44.400 Standard fixed MOH rate.. $11.00 per direct labor hour (DLH) Print Done Done Choose from any list or enter any number in the input fields and then click Check Answer 4 parts remaining Clear All Center is a manutacturer of large flower pots for urban settings. The company has these standards the foon to view the standards) m (Click the icon to view the actual results) Read the requirements Requirement 1. Compute the direct material price variance and the direct material quantity variance (Enter the variances as pot rest while dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM - Direct materials Finster Actual Results Center Ware allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,100 flower pots Purchased 16,870 pounds at a cost of $5.50 per pound; Direct materials. used 16,170 pounds to produce 1,100 pots Worked 4.5 hours per flower pot (4,950 total DLH) at a Direct labor..... cost of $19.00 per hour Actual variable manufacturing $4,60 per direct labor hour for total actual variable overhead ... manufacturing overhead of $22,770 Actual fixed manufacturing overhead $43.700 Standard fixed manufacturing overhead allocated based on actual production $48.400 Print Done