P8-44 (similar to) Question Help The Bazemore Manufacturing Company's costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor-hours (DLH). At the beginning of 2017, Bazemore adopted the following standards for its manufacturing costs: (Click to view the standards.) (Click to view additional information.) Data Table Read the requirements. Requirement 1. Prepare a schedule of total standard manufacturing costs for the 7,500 output units in January 2017. Input Cost per Output Unit $ 12.00 Direct materials Direct materials 2 lb. at $6 per lb. 7 hrs. at $15 per hr. 105.00 Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead $5 per DLH 35.00 Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Standard manufacturing cost per output unit 56.00 $8 per DLH Total $ 208.00 Requirements Data Table The denominator level for total manufacturing overhead per month in 2017 is 36,000 direct manufacturing labor-hours. Bazemore's budget for January 2017 was based on this denominator level. The records for January indicated the following: Direct materials purchased 16,200 lb. at $6.25 per lb. 1. Prepare a schedule of total standard manufacturing costs for the 7,500 output units in January 2017. 2. For the month of January 2017, compute the following variances, indicating whether each is favorable (F) or unfavorable (U): a. Direct materials price variance, based on purchases b. Direct materials efficiency variance c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Total manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. Production-volume variance 15,200 lb. 51,000 hrs. at $15.10 per hr. Direct materials used Direct manufacturing labor Total actual manufacturing overhead (variable and fixed) Actual production $550,000 7,500 output units Enter any number in the edit fields