Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Thomas Corporation's April operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours. Standard Units Costs Total Actual Costs Direct material Standard (2 lb. @ $19.00/1b.) 538 Actual (4.200 lb. 519.80/1b.) $83,160 Direct labor Standard (0.5 hr 534/hr.) $17 Actual 1950 hrs. 533.00/hr.) 31,350 Variable overhead Standard (0.5 hr. 516/hr.) Actual 16,450 Total 563 5130,960 Support $8 Determine the following variances: Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable. Materials Variances 5 0 Split cost 0 Standard cost Materials price Materials efficiency Labor Variances My Subscriptions Business Course enner Tom Favorable or U TOMniavorables Materials Variances Actual cost: $ 0 Split cost: $ 0 Standard cost: 1 $ 0 Materials price $ 0 Materials efficiency $ 0 Labor Variances 0 0 Actual cost: Split Cost: $ Standard cost: 5 Labor rate $ Labor efficiency s Support 0 0 0 Variable Overhead Variances Actual cost 0 Split cost 5 0 Standard cost 5 0 Variable overhead spending 5 0 Variable overhead efficiency 5 0 Assigning Traceable Fixed Expenses Selected data for Miller Company, which operates three departments, follow: Department A Department B Department C Inventory $40,000 $144,000 $56,000 Equipment (average cost) $360,000 $216,000 $144,000 Payroll 5810,000 5720,000 $270,000 Square feet of floor Space 18.000 9,000 3,000 Support During the year, the company's fixed expenses included the following: Depreciation on equipment $40,000 Real estate taves 12.000 Personal property taxes (on inventory and equipment) 19.200 Personnel department expenses 40,000 Assume that the property tax rate is the same for both inventory and equipment. Using the most causally related bases, prepare a schedule assigning the fixed expenses to the three departments. Hint: Not all fixed expenses are traceable to the three departments. One of these fixed costs should be considered a common cost and not traceable to the departments Do not round until your final answer. Round final answer to the nearest whole number Department A Department Department Decreto 05 OS 0 0 0 HR Type here to search Depreciation on equipment Real estate taxes Personal property taxes (on inventory and equipment) Personnel department expenses $40,000 12,000 19,200 40,000 Assume that the property tax rate is the same for both inventory and equipment. Using the most causally related bases, prepare a schedule assigning the fixed expenses to the three departments. Hint: Not all fixed expenses are traceable to the three departments. One of these fixed costs should be considered a common cost and not traceable to the departments. Do not round until your final answer. Round final answer to the nearest whole number: Department A Department B Department Depreciation Real estate taxes 0 Personal property taxes Personnel dept expenses Support $ OS 05 0 0 0 0 D 0 0 0 Check Previous Save Answers Next type here to search