Please answer all parts of this please I really need help with it. If can show your work how you got answers that would be a bonus and really appreciated. Thanks!
AutoSave . Off) H BMercer Project 5 - Saved Search Ben Mercer BM X File Home Insert Page Layout Formulas Data Review View Help Share Comments X Cut Arial 12 ~ A" A de Wrap Text General AutoSum AY O 4 Paste [G Copy Conditional Format as Cell Insert Delete Format Fill Format Painter EEE EE E Merge & Center v $ ~ % " Formatting * Table Styles Clear Sort & Find & Ideas Filter ~ Select Clipboard Font Alignment Number Styles Cells Editing Ideas A5 X A B C D E F Part 2 W N Foster Corporation uses a standard cost system. There is no beginning or ending work in process, and finished goods inventory balances. The following information was provided concerning the one product produced by this company for the period that just ended: 4 This company used Direct labor hours as the cost driver for the application of overhead. Actual price per kilogram $2.96 Actual kilograms of material used 32,000 8 Actual kilograms of material purchased 34,000 Actual hourly labor rate $17.50 10 Actual hours of production 4,900 labor hrs. 11 Standard price per kilogram 12 Standard kilograms per completed unit $2.97 6 13 Standard hourly labor rate $17.80 14 Standard time per completed unit 1 Hour 15 Actual Variable factory overhead $17,500.00 16 Actual Fixed factory overhead $18, 100.00 17 Standard variable factory overhead rate $3.80 per labor hour 18 Budgeted fixed overhead $18,400.00 19 Units completed during the period 4,975 20 21 You have just been hired by a local plastic pool manufacturer to determine if they are controlling their costs. 22 You have decided to use your recent knowledge of variance analysis to assist you in this endeavor. 23 You will analyze the variances as stated in the requirements below. 24 ar Poquired: Make sure you do not forant to labal nach variance ILAr E You need to ucn callreferences for your calculations OverviewProject5 Part 1 Part2 Part 3 + 115% Type here to search e P W 9 9:48 PM 8/5/2020AutoSave . Off) H BMercer Project 5 - Saved Search Ben Mercer BM X File Home Insert Page Layout Formulas Data Review View Help Share Comments X Cut Arial 12 ~ A" A de Wrap Text General AutoSum AY O 4 Paste [G Copy Insert Delete Format Fill Format Painter E= = E E Merge & Center v $ ~ % 9 70 20 Conditional Format as Cell Formatting * Table Styles Clear Sort & Find & Ideas Filter ~ Select Clipboard Font Alignment Number Styles Cells Editing Ideas A5 X Y fx A B C D E F 25 Required: Make sure you do not forget to label each variance U or F. You need to use cell references for your calculations. 26 Variance U or F 27 1. Calculate the direct materials price and quantity variance. Material purchase price variance -Material price variance should be based on material purchased, since you want 28 to isolate the variance as soon as possible. Material Quantity variance - Material Quantity variance should be based on materials used, since this is 29 monitoring the production efficiency. 30 2. Calculate the direct labor rate and efficiency variances. 31 Direct Labor rate variance 32 Direct Labor Efficiency variance 33 3. Variable manufacturing overhead spending and efficiency variances. 34 Variable overhead spending variance 35 Variable overhead efficiency variance 36 4. Fixed manufacturing overhead budget variance. 37 Fixed Manufacturing overhead budget variance 38 5. Pick out the one most significant variance that you computed above and explain the possible causes of this variance and why you chose it. 39 40 41 OverviewProject5 | Part 1 Part2 Part 3 | + - + 115% Type here to search e P X W 9:48 PM 8/5/2020 E
