only column X aswers

6 - IN > Directions: Use your printed ANSWER SHEET (sent via email) to record your responses to the six questions below. To earn credit, you must show your work and label each figure. Use the glven Information for YOUR squad. Take a picture of your completed ANSWER SHEET Convert it to PDF Upload the PDF to Gradescope by the end of class deadline. 4 pounds @ $10/1b = $40 2 hours @ $13/hour $26 2 hours @ $9/hour $18 6 ounces @ $0.50/ounce - $3 0.6 hours @ $30/hour = $18 0.6 hours @ $10/hour $6 Z 5 pounds @ $10/1b. = $50 4 hours $16/hour = $64 4 hours @ $7/hour = $28 $84 $142 Given Info for SQUAD: Standard Direct materials: Standard Direct labor. Standard Variable overhead: Total Standard cost per unit Planning budget based on producing & selling Actual production & sales Actual Direct materials purchased & used Actual Direct labor hours worked Actual variable manufacturing overhead $27 2,500 units 29,000 units 25,000 units 34,000 units 160,000 pounds $8.50/pound 59,000 hours @ $14/hour 2.000 units 18,000 ounces @ $0.60/oz 1.100 hours @ $30.50/hour 24 600 units 164,000 pounds @ $7.50/pound 57,000 hours @ $17/hour $564,040 $12.980 $653,220 Questions: 1. What is the materials price variance? 2. What is the materials quantity variance? 3. What is the labor rate variance? 4. What is the labor efficiency variance? 5. What is the difference between a planning budget and a flexible budget? 6. What is a budget and why is it prepared? Upload your PDF anwwer sheet to Gradescope by the end of class deadline Emailed answer sheets will NOT be accepted; no exceptions