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I have already figured out A and would like some assistance with B The Valley Plant of Patton Supply manufactures a single product. The standard
I have already figured out A and would like some assistance with B
The Valley Plant of Patton Supply manufactures a single product. The standard cost sheet for the product follows: Direct materials, 2 pounds at $16.66 per pound $ 26 Direct labor, 9.8 hours at $31.25 per hour 25 Factory overhead applied at 126% of direct labor {variable costs = $13; fixed costs = $12) 39 Variable selling and administrative cost 1? Fixed selling and administrative cost 19 Total unit costs $ 111 Standards have been computed based on a master budget activity level of 20.350 direct laborhours per month. Actual activity for the past month was as follows: Materials used 45,646 pounds at $9.99 per pound Direct labor 1?,946 hours at $32 per hour Total factory overhead $ 654,986 Production 22,?16 units Required: a. Prepare variance analyses for the variable and fixed costs. b. Complete the following table with the total variance for a resource. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required A Required E Prepare variance analyses for the variable and xed costs. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. __ __ Price variance Efficiency variance Variable overhead: Efficiency variance Fixed overhead: Required B ) Required A Required E Complete the following table with the total variance for a resource. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Direct materials ( RequiredAStep by Step Solution
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