i Actual Results i Standard Price and Volume Direct materials (resin) 9 pounds per pot at a cost of $5.00 Earthern 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 1,400 flower pots: per pound Direct labor 2.0 hours at a cost of $22.00 per hour Direct materials Standard variable manufacturing overhead rate $4.00 per direct labor hour Purchased 13,560 pounds at a cost of $5.40 per pound; Used 13,160 pounds to produce 1,400 pots Worked 2.5 hours per flower pot (3,500 total DLH) at a cost of $20.00 per hour Budgeted fixed manufacturing overhead Direct labor $29,600 $12.00 per direct labor hour (DLH) Standard fixed MOH rate Actual variable manufacturing overhead $4.60 per direct labor hour for total Print Done actual variable manufacturing overhead of $16,100 $29,300 Actual fixed manufacturing overhead Standard fixed manufacturing overhead allocated based on actual production $33,600 ist or enter any number in the input fields and then click Check Answer. Print Done Earthern Ware is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) B (Click the icon to view the actual results.) Read the requirements. Requirement 1. Compute the direct labor rate variance and the direct labor efficiency variance. (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL = Direct labor) Begin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor. x( DL rate variance x( = Requirements 1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Print Done