Netflix X *3 Assignments: ACCT-20203( X 6 Question 2 - Ch 10 HW Com X 9 Marvel Parts, Incorporated, rn X + C' h' ezto.mheducation.com,e nria: himiz',' (tr-pr iemaiinr uni'iUii I'Hnr: mite: rznr rm' i}\"'i.'HiiL.i'ii'iim ] 1% *. I] 'i' 1: Update Ch 10 HW 0 Saved Help Save 8: Exit Submit 2 6.66 Dawson Toys, Limited, produces a toy called the Maze. The company has recently created a standard cost system to help control costs poms and has established the following standards for the Maze toy: Exercise 10-8 (Algo) Direct Materials and Direct Labor Variances [LO10-1, LO10-2] Direct materials: 7 microns per toy at $0.32 per micron Direct labor: 1.3 hours per toy at $6.60 per hour 95\" During July, the company produced 4,800 Maze toys. The toy's production data for the month are as follows: if! Direct materials 80,000 microns were purchased at a cost of $029 per micron. 38,000 of these microns were still in inventory at the Pm end ofthe month. Direct labor: 6,540 direct labor-hours were worked at a cost of $45,780. Required: inferences 1. Compute the following variances for July: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None\" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations. Round final answer to the nearest whole dollar amount.) at The materials price and quantity variances. b. The labor rate and efficiency variances, 13. Material price variance 1a. Material quantity variance 1b. Labor rate variance 1b. Labor efficiency variance g Netflix X *3 Assignments: ACCT-20203( X 6 Question 3 Ch 10 HW - Coni X 9 Marvel Parts, Incorporated, rn X + v , ,z\\ 0' eztomheducationcoms'a rule: liimlz',' (ii-cw idllwliiil liliI'liil'Zilil I'l'll : mm illl'il-\"1.'Flllt,l'll'ili'itllvv'wi "i l\\ Update Ch 10 HW 0 Saved Help Save 8: Exit Submit 6.68 Marvel Parts, Incorporated, manufactures auto accessories One of the company's products is a set of seat covers that can be adjusted poms to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 1230 hours each month to produce 2050 sets of covers. The standard costs associated with this level of production are: Problem 10-9 (Algo) Comprehensive Variance Analysis [LO10-1, LO10-2, LO10-3] Q Per Set of eBook Total Covers Direct materials 3 27,675 $ 13.50 Direct: labor $ 3,610 4.20 Variable manufacturing overhead (based Hint on direct laborhours) $ 4,920 2.40 $ 20 . 10 'EF During August, the factory worked only 750 direct laborehours and produced 1,500 sets of covers. The following actual costs were Print . recorded during the month: a Total Per Set of References Covers Direct materials {3,900 yards) $ 19,500 $ 13.00 Direct labor $ 6,600 4.40 Variable manufacturing overhead $ 4,800 3.20 3 At standard, each set of covers should require 18 yards of material. All ofthe materials purchased during the month were used in production Required: 1. Compute the materials price and quantity variances for August. 2. Compute the labor rate and efficiency variances for August. 3. Compute the variable overhead rate and efficiency variances for August. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) l1 \"mm. "a\". we...\" F F % .<.t>