I beg someone for help soon

Smith Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Smith allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: (Click the icon to view the selected data.) Read the requirements. 1. Prepare a flexible budget based on the actual number of recliners sold. 2. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances. Round to the nearest dollar. 3. Have Smith's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? 4. Describe how Smith's manaoers can benefit from the standard costina Requirements 2. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances. Round to the nearest dollar. 3. Have Smith's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? 4. Describe how Smith's managers can benefit from the standard costing system. Actual Units (Recliners) Sales Revenue Variable Manufacturing Costs: Direct Materials Direct Labor Direct Labor Variable Overhead Fixed Manufacturing Costs: Fixed Overhead Tatal Cant of andi Cold Formula Variance Direct materials cost variance = Direct labor cost variance = = Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for dir \begin{tabular}{lll|} & Formula & Variance \\ \hline Direct materials efficiency variance & = \\ Direct labor efficiency variance & = \end{tabular} Now compute the variable overhead cost and efficiency variances. Select the required formulas, compute the v efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round your answe variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round your answers to Formula Variance FOH cost variance = FOH volume variance = Requirement 3. Have Smith's managers done a good job or a poor job controlling materials, labor, and overi Requirement 3. Have Smith's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? The variances computed in Requirement 2 suggest that the managers have done a job controlling materials and la The direct materials cost variance and direct labor efficiency variance help offset the direct labor co and direct materials efficiency variance. Managers have done a job controlling overhead costs as evidenced by the of the overhead variances are Requirement 4. Describe how Smith's managers can benefit from the standard costing system. Standard costing helps managers do the following: Smith Recliners manufactures leather recliners and uses flexible budgeting and a standard cost system. Smith allocates overhead based on yards of direct materials. The company's performance report includes the following selected data: (Click the icon to view the selected data.) Read the requirements. 1. Prepare a flexible budget based on the actual number of recliners sold. 2. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances. Round to the nearest dollar. 3. Have Smith's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? 4. Describe how Smith's manaoers can benefit from the standard costina Requirements 2. Compute the cost variance and the efficiency variance for direct materials and for direct labor. For manufacturing overhead, compute the variable overhead cost, variable overhead efficiency, fixed overhead cost, and fixed overhead volume variances. Round to the nearest dollar. 3. Have Smith's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? 4. Describe how Smith's managers can benefit from the standard costing system. Actual Units (Recliners) Sales Revenue Variable Manufacturing Costs: Direct Materials Direct Labor Direct Labor Variable Overhead Fixed Manufacturing Costs: Fixed Overhead Tatal Cant of andi Cold Formula Variance Direct materials cost variance = Direct labor cost variance = = Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for dir \begin{tabular}{lll|} & Formula & Variance \\ \hline Direct materials efficiency variance & = \\ Direct labor efficiency variance & = \end{tabular} Now compute the variable overhead cost and efficiency variances. Select the required formulas, compute the v efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round your answe variances, and identify whether each variance is favorable (F) or unfavorable (U). (Round your answers to Formula Variance FOH cost variance = FOH volume variance = Requirement 3. Have Smith's managers done a good job or a poor job controlling materials, labor, and overi Requirement 3. Have Smith's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why? The variances computed in Requirement 2 suggest that the managers have done a job controlling materials and la The direct materials cost variance and direct labor efficiency variance help offset the direct labor co and direct materials efficiency variance. Managers have done a job controlling overhead costs as evidenced by the of the overhead variances are Requirement 4. Describe how Smith's managers can benefit from the standard costing system. Standard costing helps managers do the following