Munoz Company manufactures molded cndles that finished by hand. the company developed standards for a new line of drip candles. During 2017, Munoz planned to produce 33,000 drip candles. Production lagged behind expectations, and it actually produced only 29,000 drip candles. At year-end direct materials purchased and used amount to 44,700 pounds at unit price of $0.54 per pound. Direct labor costs were actually $7.50 per hour and 19,700 actual hours were worked to produce the drip candles.

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Munoz Company manufactures molded candles that are finished by hand. The company developed the following standards for a new line of drip candles Amount of direct materials per candle 1.50 pounds Price of direct materials per pound 0.60 Quantity of labor per unit 0.60 hours Price of direct labor per hour 8.10/hour Total budgeted fixed overhead $201,300 During 2017, Munoz planned to produce 33,000 drip candles. Production lagged behind expectations, and it actually produced only 29,000 drip candles. At year-end, direct materials purchased and used amounted to 44.700 pounds at a unit price of $0.54 t labor costs were actually $750 perhour and 19700 actual hours were worke per pound. Direc d to produce the drip candles. Overhead for the year actually amounted to $182,700. Overhead is applied to products using a predetermined overhead rate based on estimated units Required a &b. Compute the standard cost per candle for direct materials, direct labor, overhead and also the total standard cost for one drip candle c &d. Compute the actual cost per candle for direct materials. direct labor, overhead and also the total actual cost per candle e. Compute the price and usage variances for direct materials and direc f. Compute the fixed cost spending and volume varlances Req A and B Compute the standard cost per candle for direct materials, direct labor, overhead and also the total standard cost for one drip candle Round your answers to 2 decimal places.) tanda Cost cost per un Direct material Direct labor Overhead Total per candle Req A and B Req C and D Req F Compute the actual cost per candle for direct materlals, direct labor, overhead and also the total actua cost per candle not round intermediate calculations. Round your answers to 2 decimal places Cost er unit Direct material Direct labo Overhead Total per candle Compute the price and usage variances for direct mate als and direct labor. ndicate the effect of each va nce by selecting F" for favorable unfavorable and "None" for no effect Cost Variance Direct materials Price variance Usage variance Direct labor Price variance Usage variance Compute the xed cost spending and volume va ndicate the effect of each va nce by selecting "F" for favorable unfavorable, and "None no effect Zero variance Fixed MOH cost Variance Spending variance Volume variance