K Tipton Company manufactures shirts. During June, Tipton made 1,200 shirts and gathered the following additional data. (Click on the icon to view the data.) Read the requirements. 7. Calculate the direct materials cost variance. Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variand Actual Cost Direct Materials Cost Variance Standard Cost ) ) X ( 8. Calculate the direct materials efficiency variance Select the formula, then enter the amounts and compute the efficiency variance for direct materials and identify whether the va Direct Materials Efficiency Variance The total direct materials variance is x ) x ( ) x 9. Calculate the total direct materials variance and identify whether the variance is favorable or unfavorable. 10. Calculate the direct labor cost variance. Select the formula, then enter the amounts and compute the cost variance for direct labor and identify whether the variance is fa x SISPREN Direct Labor Cost Variance x P 11. Calculate the direct labor efficiency variance, Select the formula, then enter the amounts and compute the efficiency variance for direct labor and identify whether the variance Direct Labor Efficiency Variance PIE X = 12. Calculate the total direct labor variance and identify whether the variance is favorable or unfavorable Data table Direct materials cost standard Direct materials efficiency standard Actual amount of fabric purchased and used Actual cost of fabric purchased and used Direct labor cost standard Direct labor efficiency standard Actual amount of direct labor hours Actual cost of direct labor Requirements Print Calculate the following variances: 7. Direct materials cost variance 8. Direct materials efficiency variance 9. Total direct materials variance Print $6.00 per yard of fabric 1.50 yards per shirt 1,680 yards $10,500 $15.00 per DLHr 2.00 DLHr per shirt 2,520 DLHr $36,540 Done 10. Direct labor cost varian 11. Direct labor efficiency v 12. Total direct labor varian Done

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