n9 P23-33B Mancini manufactures embroidered jackets. The company prepares flex- ible badges and uses a standard cost system to control manufacturing costs. The standard unit cost of a jacket is based on static budget volume of 14,000 jackets per monch Direct maserials (3.0 sq34.00 per sq f Direct lsbot 12hor$9.40 per hour) Manelsctring ovechead $12.00 18.30 $1.30 Faed (2 hoers $2.20 per houl Toral cont per jacken Actual cost and production information a. Actual production was 13,600 jackets. b. Actual direct naterials usage was 2.8 square feet per jacket,at an actual price of $4.10 per square foot. Actual direct labor unsage of 25,000 hours at a toral cost of 237,500 d. Total actual overhead cost was $79,000 Requirements 1. Compute the price and eficiency variances for direct materials and 1 2. Journalize the usage of direct materials and the assignment of direst . For manufacturing overhead, compute the total variance, the flexible direct labor. (pp. 1168, 1170) labor, including the related variances. (pp. 1175, 1177) budget variance, and the production volume variance. (Hint Remember that the fixed overhead in the flexible budget equals the fixed overhead in the starie budget.) (pp. 1173, 1174) 4. Mancini's management intentionally parchased superior materials for November production. How did this decision affect the cost vari- ances? Overall, was the decision wise? (p. 1171