Planned volume for year (static budget) 3, 900 units Standard direct materials cost per unit 3.30 pounds @ $1. 20 per pound Standard direct labor cost per unit 3. 90 hours @ $3. 80 per hour Total expected fixed overhead costs $19 , 500 Actual volume for the year (flexible budget) 4 , 300 units Actual direct materials cost per unit 2.90 pounds @ $1.50 per pound Actual direct labor cost per unit 4. 20 hours @ $3. 40 per hour Total actual fixed overhead costs $ 15 , 500 Required a. Prepare a materials 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 (F) or unfavorable (U). c. Prepare a labor 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). e. Calculate the predetermined overhead rate, assuming that Stuart uses the number of units as the allocation base. f. Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U). g. 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. Reg A Reg B Req C Req D Req E to G 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.) Materials Variance Information Table Standard price per pound Actual price per pound Standard quantity for flexible budget pounds Actual quantity used pounds Check my Planned volume for year (static budget) 3,900 units Standard direct materials cost per unit 3.30 pounds @ $1.20 per pound Standard direct labor cost per unit 3.90 hours @ $3.80 per hour Total expected fixed overhead costs $19 ,500 Actual volume for the year (flexible budget) 4, 300 units Actual direct materials cost per unit 2.90 pounds @ $1.50 per pound Actual direct labor cost per unit 4. 20 hours @ $3. 40 per hour Total actual fixed overhead costs $15 , 500 Required ook a. Prepare a materials 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 (F) or unfavorable (U). rint c. Prepare a labor 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). e. Calculate the predetermined overhead rate, assuming that Stuart uses the number of units as the allocation base. rences f. Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U). g. 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. Req A Req B Req C Req D Req E to G Calculate the materials 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).) Material price variance U Material usage variance F Req A Req C > 6 of 10 raw Planned volume for year (static budget) 3, 900 units Standard direct materials cost per unit 3.30 pounds @ $1. 20 per pound Standard direct labor cost per unit 3.90 hours @ $3. 80 per hour Total expected fixed overhead costs $19 , 500 Actual volume for the year (flexible budget) 4, 300 units Actual direct materials cost per unit 2. 90 pounds @ $1. 50 per pound Actual direct labor cost per unit 4. 20 hours @ $3. 40 per hour Total actual fixed overhead costs $ 15 , 500 Required a. Prepare a materials 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 (F) or unfavorable (U). c. Prepare a labor 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). e. Calculate the predetermined overhead rate, assuming that Stuart uses the number of units as the allocation base. f. Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U). g. 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. Req A Req B Req C Req DI Req 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 F C Labor usage variance d Financial Statement Analysis Project i Saved Help Save & Exit Check my w Standard direct labor cost per unit 3.90 hours @ $3.80 per hour Total expected fixed overhead costs $19, 500 Actual volume for the year (flexible budget) 4, 300 units Actual direct materials cost per unit 2.90 pounds @ $1.50 per pound Actual direct labor cost per unit 4.20 hours @ $3.40 per hour Total actual fixed overhead costs $15 , 500 Required a. Prepare a materials 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 (F) or unfavorable (U). c. Prepare a labor 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). e. Calculate the predetermined overhead rate, assuming that Stuart uses the number of units as the allocation base. f. Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U). g. 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. Req A Req B Req C Reg D Req E to G Calculate the predetermined overhead rate, assuming that Stuart 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 (i.e., zero variance).) Show less e. Predetermined overhead rate per unit f. Fixed cost spending variance F J. Fixed cost volume variance F