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Please also give explanation on how you got each number, Thanks! Problem 16-67 Comprehensive Variance Problem (LO 16-5, 6) Sweetwater Company manufactures two products, Mountain

image text in transcribedimage text in transcribedPlease also give explanation on how you got each number, Thanks!

Problem 16-67 Comprehensive Variance Problem (LO 16-5, 6) Sweetwater Company manufactures two products, Mountain Mist and Valley Stream. The company prepares its master budget on the basis of standard costs. The following data are for March: Mountain Mist 3 ounces at $14.80 per ounce 5 hours at $60.20 per hour $48 $364,425 6,450 Valley Stream 4 ounces at $17.20 per ounce 6 hours at $78 per hour $53.20 $399,360 7,800 Standards Direct materials Direct labor Variable overhead (per direct labor-hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) 3,800 ounces at $14.20 per ounce 4,970 hours at $62.50 per hour $257,550 $323,950 1,070 units 4,700 ounces at $19.00 per ounce 7,480 hours at $82.60 per hour $385,510 $399,100 1,220 units Required: a. Compute a variance analysis for each variable cost for each product. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Mountain Mist Price Variance Efficiency Variance Valley Stream Price Variance Efficiency Variance Direct materials Direct labor Variable overhead b. Compute a fixed overhead variance analysis for each product. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Mountain Mist Price Variance Production Volume Variance Valley Stream Price Variance Production Volume Variance Fixed overhead

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