Planned volume for year (static budget)		4,500	units
Standard direct materials cost per unit		2.60	pounds	@	$	1.40	per pound
Standard direct labor cost per unit		2.60	hours	@	$	4.40	per hour
Total expected fixed overhead costs	$	23,400
Actual volume for the year (flexible budget)		4,800	units
Actual direct materials cost per unit		2.20	pounds	@	$	2.00	per pound
Actual direct labor cost per unit		2.70	hours	@	$	3.90	per hour
Total actual fixed overhead costs	$	19,300

Required

1. Prepare a materials variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity.
2. Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U).
3. Prepare a labor variance information table showing the standard price, the actual price, the standard hours, and the actual hours.
4. Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U).
5. Calculate the predetermined overhead rate, assuming that Vernon uses the number of units as the allocation base.
6. Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U).
7. Calculate the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable (U).

RA Ree BGC Reg D Receta 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 fexble budget Achardlysed pounds pounds REGA Req Rec Rego Reg 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 effectie, zero variance).) Material price variance Material usage variance Req A Rego Reac Req Reg 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 housunod per hour per hour Red A Reg Reqc Req Reg to Calculate the predetermined overhead rate, assuming that Vernon 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 rero variance)) Show lesa perunt e. Predetermined overhead rate Fred cost spending variance 9 Faxed cost volume variance TA Req Rego Regt Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). Select "None" if there is no effect ( Tere variance) Labor pnce varande Laborge variance RA Ree BGC Reg D Receta 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 fexble budget Achardlysed pounds pounds REGA Req Rec Rego Reg 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 effectie, zero variance).) Material price variance Material usage variance Req A Rego Reac Req Reg 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 housunod per hour per hour Red A Reg Reqc Req Reg to Calculate the predetermined overhead rate, assuming that Vernon 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 rero variance)) Show lesa perunt e. Predetermined overhead rate Fred cost spending variance 9 Faxed cost volume variance TA Req Rego Regt Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). Select "None" if there is no effect ( Tere variance) Labor pnce varande Laborge variance