Need Help with F, G, and H please.

aughan Company had a fantastic sales 3rd Quarter! Management had wanted to wait until quarter end to do post mortem of the annual results and do some investigations if necessary. Here is what actually happened: Total sales were $2,248,000 for 40,000 units. Management failed to be able to buy enough direct materials to produce the required units for ending inventory nor to keep the required direct materials on hand for ending inventory requirements due to a shortage of WHAM during the quarter. Total Production for 3rd quarter was 40,000 units. Vaughan uses LIFO inventory method. Regarding WHAM, Vaughan purchased and used 120,300 pounds at a total cost of $218,555. Vaughan used 35,100 DLH (direct labor hours) to make the 40,000 units at a total labor cost of $421,200. Actual Variable FOH was $35,750 and actual Fixed FOH was $33,700. Even though Production ended up being 40,000 units, the cash borrowings indicated by the static budget dictated that Vaughan borrow money ($30,000) on the last day of July and they did so. They also paid it back at the end of the August as budgeted. Selling and Administrative expenses totaled $785,000. $315,000 was variable and the rest was fixed. We have not covered S\&A variances, but never the less, the difference between what actually occurred and what should have happened (the flexible budget) can still be illuminating. In this Google Sheet: (a) Prepare a standard cost card for a widget. (b) Prepare an flexible budget performance report comparing actual production/sales to a flexible budget of such sales/costs (c) Prepare the direct material variances (price and efficiency/quantity). for each material (d) Prepare the direct labor variances (price/rate and efficiency) (e) Prepare the Variable (spending \& efficiency) and Fixed FOH (budget/spending \& volume) fixed. We have not covered S\&A variances, but never the less, the difference between what actually occurred and what should have happened (the flexible budget) can still be illuminating. In this Google Sheet: (a) Prepare a standard cost card for a widget. (b) Prepare an flexible budget performance report comparing actual production/sales to a flexible budget of such sales/costs (c) Prepare the direct material variances (price and efficiency/quantity) for each material (d) Prepare the direct labor variances (price/rate and efficiency) (e) Prepare the Variable (spending \& efficiency) and Fixed FOH (budget/spending \& volume) variances. (refer to the appendix for the factory overhead variances) (f) What should management be looking into for further investigation? (g) Do you think they should have waited until the end of the quarter to analyze the differences between actual results and planned results? Why or why not? (h) Is FOH over or underapplied? And by how much? Draw a T-account and show FOH. Does your answer match with the answers you calculated for Variable and Fixed FOH variances? a. \begin{tabular}{|c||c|c|c|c|} \hline Standard Cost Card & Quantity & & Cost & Total \\ \hline Direct Material WHAM & 3 & x & 1.8 & 5.40 \\ \hline Direct Labor & 0.6 & x & 14 & 8.40 \\ \hline Factory Overhead & 0.6 & x & 3.4 & 2.04 \\ \hline Total Cost & \multicolumn{3}{|c|}{ (\$1.5 variable, \$1.9 fixed) } \\ \hline \end{tabular} b. \begin{tabular}{|c|c|c|c|c|c|c|} \hline & & \begin{tabular}{l} Flexible \\ Budget \end{tabular} & & \begin{tabular}{l} Actual \\ oduction \\ ad Sales \end{tabular} & \begin{tabular}{c} Flexible \\ Budget \\ Variance \\ \end{tabular} & \begin{tabular}{l} Favorable or \\ Unfavorable? \end{tabular} \\ \hline Units & & 40,000 & & 40,000 & - & No Variance \\ \hline Sales & $ & 2,240,000 & $ & 2,248,000 & 8,000 & F \\ \hline \multicolumn{7}{|l|}{ Variable Costs: } \\ \hline Direct Materials WHAM & $ & 216,000 & $ & 218,555 & 2,555 & U \\ \hline Direct Labor & $ & 336,000 & $ & 421,200 & 85,200 & U \\ \hline Variable FOH & $ & 36,000 & $ & 35,750 & 250 & F \\ \hline Variable S\&A & $ & 312,000 & $ & 315,000 & 3,000 & U \\ \hline Interest Expense & $ & 450 & $ & 450 & - & No Variance \\ \hline Contribution Margin & $ & 1,339,550 & $ & 1,257,045 & 82,505 & U \\ \hline Fixed Costs - FOH & $ & 33,700 & $ & 33,700 & a & No Variance \\ \hline \end{tabular} Example of how your variance analysis should look like: show total from formula calc 88 show numbers from formula 422 c. Direct Material WHAM c. Direct Material WHAM e. Variable FOH \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{2}{|l|}{35,750} & \multicolumn{2}{|c|}{526500} & \multicolumn{2}{|c|}{36000} \\ \hline & & \multicolumn{2}{|c|}{351001.5} & \multicolumn{2}{|c|}{240001.5} \\ \hline \multicolumn{2}{|c|}{ Actual } & \multicolumn{2}{|c|}{AHSR} & \multicolumn{2}{|c|}{SHSR} \\ \hline & \multicolumn{2}{|c|}{ Spending } & \multicolumn{2}{|c|}{ Efficiency } & \\ \hline & \multicolumn{2}{|c|}{490,750} & \multicolumn{2}{|c|}{490500} & \\ \hline * & \multicolumn{2}{|c|}{ Faorable } & \multicolumn{2}{|c|}{ Unfavorable } & \\ \hline & Totals & 490,750 & 490500 & 250 & \\ \hline & & Spending & Efficiency & Total & \\ \hline \multicolumn{6}{|l|}{ Fixed FOH } \\ \hline \multirow{2}{*}{\multicolumn{2}{|c|}{33700}} & \multicolumn{2}{|c|}{45600} & \multicolumn{2}{|c|}{45600} \\ \hline & & \multicolumn{2}{|c|}{400000.61.9} & \multicolumn{2}{|c|}{400000.61.9} \\ \hline \multicolumn{2}{|c|}{ Actual } & \multicolumn{2}{|c|}{ lex Budget at capactiy@Standar } & \multicolumn{2}{|c|}{ Applied } \\ \hline & \multicolumn{2}{|c|}{ Budget/Spending } & \multicolumn{2}{|c|}{ Volume } & \\ \hline & \multicolumn{2}{|c|}{11900} & \multirow{2}{*}{\multicolumn{2}{|c|}{Favorable0}} & \\ \hline & \multicolumn{2}{|c|}{ Unfavorable } & & & \\ \hline \end{tabular} f. What should management be looking into for further investigation? f. What should management be looking into for further investigation? g. Do you think they should have waited until the end of the year to analyze the differences between actual results and planned results? Why or why not? h. Is FOH over or underapplied? And by how much? Draw a T-account and show FOH. Does your answer match with the answers you calculated for Variable and Fixed FOH variances? \begin{tabular}{|r|c|c|} \cline { 3 - 3 } \multicolumn{1}{|c|}{} & Amount & Fav or UnFav? \\ \hline VFOH Spending & & \\ \hline VFOH Efficiency & & \\ \cline { 2 - 3 } FFOH Spending & & \\ \cline { 2 - 3 } FFOH Volume & & \\ \hline Totals & & \\ \hline & & \\ \hline \end{tabular} Inserted for reference: Various parts of the Master Budget Vaughan Company Sales Budget 3rd Quarter \begin{tabular}{|c||c||c||c|} \hline July & August & September & 3rd Quarter \\ \hline \end{tabular}