online.net 25 4. Saved The following data were drawn from the records of Thornton Corporation 5 points Planned volute for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (ledble budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 300 4,900 units 3.40 pounds 52.00 per pound 3.50 hour's @ $4,10 per hour $19,500 5,300 units 3.00 pounds @ $2.50 per pound 3.90 hours @ $3.5e per hour $15,600 Pent Required Rurces .. Prepare a materiais variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity b. Calculate the materials price and usage variances. Indicate whether the variances are favorable or unfavorable (U). c. Prepare a lobor variance information table showing the standard price, the actual price the standard hours, and the actual hours d. Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). .. Calculate the predetermined overhead rate, assuming that Thornton uses the number of units as the allocation base. Calculate the fixed cost spending variance Indicate whether the variance is favorable in or unfavorable (U). 9. Calculate the fixed cost volume variance indicate whether the variance is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. ROGA Reac Red D Reg to Prepare a materials variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity. (Round "Standard price and "Actual price to 2 decimal places.) Matas Variance Information Table Standard price per pound Adual price per pound Standard quantity for exible budget pounds Actual quantity used pounds Rege > Variance is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Req A ReqB Reg C Reg D Reg E to G Calculate the materials price and usage variances. Indicate whether the variances are favorable (E) or unfavorable (U). (Select "None" If there is no effect i.e., zero variance).) Material price variance Material usage variance Complete this question by entering your answers in the tabs below. Reg A Red B Regc Reg D Red Eto G Prepare a labor variance information table showing the standard price, the actual price, the standard hours, and the actual hours. (Round "Standard price and "Actual price to 2 decimal places.) Labor Variance Information Table Standard price Actual price Standard hours for flexible budget Actual hours used per hour per hour Complete this question by entering your answers in the tabs below. Req A Red B Regc Reg D Reg E to G Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Labor price variance Labor usage variance unfavorable (U). Complete this question by entering your answers in the tabs below. Req A Red B Regc Reg D Reg E to G Calculate the predetermined overhead rate, assuming that Thornton uses the number of units as the allocation base. Calculate the fixed cost spending variance and the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable (U). (Round "Predetermined overhead rate answer to 2 decimal places. Select "None" if there is no effect (ie, zero variance).) Show less e. Predetermined overhead rate Fbed cost spending variance 9. Foced cost volume variance per unit