Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where g is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Cost Formulas $16.404 $4,100 - $1.709 $5,700 + $0.609 $1.500 + $0.109 $18,000 + $2.909 $8,400 $2,600 $13,100 + $0.809 The Production Department planned to work 4.100 labor-hours in March; however, it actually worked 3,900 tabor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Ineurred in March Direct labor 565,560 Indirect labor $10,250 Utilities $8.550 Supplies $ 2,120 Equipment depreciation 5 29,310 Factory rent $ 8.000 Property taxes 5 2.600 Factory administration 515.610 Required: 1. Prepare the Production Department's planning budget for the month 2. Prepare the Production Department's flexible budget for the month 3. Calculate the spending variances for all expense items Complete this question by entering your answers in the tabs below. Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,400 helmets, using 2,108 kilograms of plastic. The plastic cost the company $13,913. According to the standard cost card, each helmet should require 0.54 kilograms of plastic, at a cost of $700 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQ * SP) to make 3,400 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance? (For requirements 3 and 4, 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.) 1. 2 3 Standard quantity of kilograms allowed Standard cost allowed for actual output Materials spending variance Materials price variance Materials quantity variance Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours 7.00 pounds 0.40 hours Direct materials Direct labor Standard Price or Rate $ 3.00 per pound $14.00 per hour Standard Coat $21.00 $ 5.60 During the most recent month, the following activity was recorded: a. Thirteen thousand six hundred pounds of material were purchased at a cost of $2.90 per pound b. The company produced only 1,360 units, using 12,240 pounds of material (The rest of the material purchased remained in raw materials inventory) c. 644 hours of direct labor time were recorded at a total labor cost of 57728. Required: Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values.) Materials price variance Materials quantity variance SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 6,700 of these meals using 1.300 direct labor-hours. The company paid its direct labor workers a total of $16,900 for this work, or $13.00 per hour According to the standard cost card for this meal, it should require 0.20 direct labor hours at a cost of $12.50 per hour. Required: 1. What is the standard labor hours allowed (SH) to prepare 6,700 meals? 2. What is the standard labor cost allowed (SH SR) to prepare 6,700 meals? * 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, 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.) 1 2 3 Standard labor-hours allowed Standard labor cost allowed Labor spending variance Labor rate variance Labor efficiency variance Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below, Direct materials Direct labor Standard Quantity or Hours 6.40 pounds 0.40 hours Standard Price or Rate $ 1.70 per pound $14.00 per hour Standard Cost $10.88 $ 5.60 During the most recent month, the following activity was recorded: a. Eighteenthousand five hundred pounds of material were purchased at a cost of $1.40 per pound, b. All of the material purchased was used to produce 2,500 units of Zoom c. 800 hours of direct labor time were recorded at a total labor cost of $13.600 Required: 1. Compute the materials price and quantity variances for the month, 2. Compute the labor rate and efficiency variances for the month. (For all requirements, indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values. Round your intermediate calculations to the nearest whole dollar) 1 Materials price variance Materiais quantity variance Labor rate variance Labor efficiency variance 2