i Standard Price and Volume - FlowerMate 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.) Requirements 1. Compute the variable manufacturing overhead variances. What do each of these variances tell management? 2. Compute the fixed manufacturing overhead variances. What do each of these variances tell management? Direct materials (resin) 13 pounds per pot at a cost of $6.00 per pound 4.0 hours at a cost of $20.00 per hour Requirement 1. Compute the variable manufacturing overhead variances. What do each of these variances tell management? (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variand Begin by computing the variable manufacturing overhead rate variance. First determine the formula for the rate variance, then compute the rate variance for variable manufacturing overhead. Direct labor.... Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate $3.00 per direct labor hour $28,800 $7.00 per direct labor hour (DLH) Actual hours x ( Actual rate Standard rate 20 Variable overhead rate variance 4950F 4950 X 19 Print Done Now compute the variable manufacturing overhead efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for variable manufacturing overhead. Variable overhead efficiency variance Actual rate x Actual hours Standard hours allowed 19 x 4950 What do each of these variances tell management? The variable manufacturing overhead (MOH) rate variance tells managers that were than expected. The variable MOH efficiency variance tells managers that actual were V than Requirement 2. Compute the fixed manufacturing overhead variances. What do each of these variances tell management? (Abbreviations used: MOH = manufacturing overhead. Enter the variances as positive numbers. Label the variances as favorab Begin by computing the fixed manufacturing overhead budget variance. First determine the formula for the budget variance, then compute the budget variance for fixed manufacturing overhead. Actual Results Fixed MOH = budget variance FlowerMate 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: Direct materials Now compute the fixed manufacturing overhead volume variance. First determine the formula for the volume variance, then compute the volume variance for fixed manufacturing overhead. Fixed MOH = volume variance Direct labor. Purchased 15,020 pounds at a cost of $6.40 per pound; Used 14,520 pounds to produce 1,100 pots Worked 4.5 hours per flower pot (4,950 total DLH) at a cost of $19.00 per hour $3.60 per direct labor hour for total actual variable manufacturing overhead of $17.820 $28,400 What do each of these variances tell management? Actual variable manufacturing overhead The fixed overhead budget variance tells managers that The fixed overhead volume variance tells managers that Actual fixed manufacturing overhead Standard fixed manufacturing overhead allocated based on actual production Activate Windows $30,800 Choose from any list or enter any number in the input fields and then continue to the next question. Print Done