mylab.pearson.com/Student/PlayerHomework.aspx?homeworkld=622119803&questionld=7&flushed=false&cld=6901739¢erwin=yes ACC 241 = it BE I1 85 12 A3 SKILL 4 04/25/22 8:51 PM Homework: Chapter 11 Homework (required) Question 7, E11-30A (similar to) HW Score: 78.63%, 7.86 of 10 points Part 1 of 5 x Points: 0 of 1 Save CenterWare 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.) Read the requirements. Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials) First determine the formula for the price variance, then compute the price variance for direct materials. Actual quantity purchased x ( Standard price Actual price = DM price variance = X Actual Results Standards CenterWare allocated fixed manufacturing overhead to production based on standard direct labor - X hours. Last month, the company reported the following actual results for the production of 1,200 Requirements flower pots: 16 pounds per pot at a cost of $6.00 per Purchased 19,960 pounds at a cost of $6.20 per pound; Direct materials (resin) . . . . . . . . . . . pound Direct materials . . . . . . . . . . . . . . . used 19,560 pounds to produce 1,200 pots 1. Compute the direct material price variance and the direct material quantity Direct labor. . . . . . .. . . . . 4.0 hours at a cost of $19.00 per hour Worked 4.5 hours per flower pot (5,400 total DLH) at a variance 2. Who is generally responsible for each variance? Standard variable manufacturing overhead rate . . . . . $4.00 per direct labor hour Direct labor. . . . .. . . . . . . . . cost of $18.00 per hour Actual variable manufacturing $4.70 per direct labor hour for total actual variable 3. Interpret the variances Budgeted fixed manufacturing overhead . . . .. . . .. . . $23,000 overhead . . . . . . . . manufacturing overhead of $25,380 Standard fixed MOH rate. . . . . . . . . .. . . . . . . . . . $5.00 per direct labor hour (DLH) Actual fixed manufacturing overhead $22,300 Standard fixed manufacturing overhead allocated based on actual Print Done production . . . . . . . . . . . . . . . . . . .. . . . $24,000 Print Done Print Done Help me solve this Video Get more help - Clear all Check