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Pram Awning manufactures awnings and a standard cost system. The company allocates overhead based on the Actual cost and operating data from the most recent month are as follows: number of direct labor hours. The following are the company's cost and standards at Click the loon to view the actual results) Click the toon to view the landards) All manufacturing overhead is located on the basis of direct labor hours Read the movements Requirement 2b. Calculate the direct later variances (Enter the variances as posive numbers. Enter currency amounts to the newest cont and your answers to the nearest whole dotar la the variance as tveier unters (US Abbreviations sed DLDirect labor) First determine the formula for the the variance, then compute the inte variance for director DL rate variance Firul determine the formula for the efficiency variance, then compute the efficiency variance for direct labor > - Leclercy variance Requirement 2. Calculate the variable mandacturing overhead variances (Enter the various as pulverumbers Enter currency amounts to the nearest cent and your answers to the rear where he wrote or unfavorable (US) Fast determine the formula for the rate variance, the compute the rate variance for variable manufacturing overhead (Roundnerin calculations to the nearest cent) Variable overhead Now come the variable manufacturing overhead officiency varion First in the formula for the efficiency variance, the compute the efficiency are for at ved Walthead yance Choose from any or enterary number in the inputs and then continue to return Pratt Awning manufactures awnings and uses a standard cost system. The company locates overhead based on the Actual cost and operating data from the most recent month we as follows: number of direct labor hours. The following we the company's cost and standards data Click the icon to view the actual results) Click the icon to view the standards) All manufacturing overhead is located on the basis of direct labor hours Read the requirements Now compute the variable manufacturing overhead efficiency variance. Pe determine the formula for the efficiency variance, the compute the efficiency verence for variabile manufacturing overhead. Varable overhead = ciency variance Requirement 2d. Calculate the found manufacturing overhead variances (Enter the variance as a positive number. Label the variance as favorable (F) or unfavorable (U)) Begin by computing the feed manufacturing overhead budget variance. Fra determine the formula for the budget variance, the compute the budget variance for fixed manufacturing overhead Feed MOH budget variance Now compute the feed manufacturing overhead volume variance. First determine the formule for the volume variunor, then compute the volunte variance for fred manufacturing overhead Fred MOH - volume variance Requirement. Explain what each of the variances you calculated means and give at least one possible explanation for each of those variares. Direct materiais: Variance Possible explanation Meaning Choose from any list or enter any number in the input fields and then continue to the next question Pratt Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the Actual cost and operating data from the most recent month are as follows: number of direct labor hours. The following we the company's cost and standards data: Click the icon to view the actual results.) (Click the icon to view the standards) Al manufacturing overhead is located on the basis of direct labor hours Read the requirements Now compute the variable manufacturing overhead efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for variable manufacturing overhead Variable overhead officiency variance Requirement 2d. Calculate the fixed manufacturing overhead Variances (Enter the variance as a positive number, Label the variance as favorable (F) or unfavorable (US) Begin by computing the fund manufacturing overhead budget variance Fest determine the formula for the budget variance, then compute the budget variance for fixed manufacturing overhead. Fhed MOH budget variance Now compute the fund maracturing overhead volume variance Fint determine the formula for the volume varianon, then compute the volume variance for find manufacturing overhead Flund MOH - volume variano Requirements. Explain what each of the variances you calculated means and give a stone pouble explanation for each of those variances Direct materials: Variance Possible explanation Meaning Choose from any list or enterary number in the input fields and then continue to the question Pratt Awning manufactures awnings and uses a standard cost system. The company located overhead based on the Actual cost and operating data from the most recent month are as follows number of direct labor hours. The following are the company's cost and standards data (Click the icon to view the charts) Click the loon to view the standards All manufacturing overhead is located on the basis of direct labor hours. Read the requirements Requirements. Explain what each of the variancen you calculated means and give test one possible exploration for each of those vores Direct materials Variance Meaning Possible explanation OM OM quantity Direct Labor Possible explanation Variance Meaning DL Money Variable manufacturing overhead: Possible explanation Variance Meaning VOH VOH ceny Fixed manufacturing overhead: Variance Meaning Possible explanation Choose from any list or enter any number in the input de and then continue to the next question Ang man lactures wings and uses a standard cost system. The company located on the number of direct labor hours. The following are the company's cost and standarde cox (Click the icon to view the standards.) o Ach cost and operating data from the most recent month are as follows Ok the icon to www the actual reas) Al marfacturing overed is located on the basis of direct stor hour Read the meets DL rate DM aiciency Variable manufacturing overhead Variance Meaning VOH Possible explanation VOH efficiency Fixed manufacturing overhead Variance Meaning FOH budget Possible explanation FOH volume Are any of the variances y lo be inte? The variance is to be related to the This may in variance is that will ring from a list or enter any number in the input fields and then continue to the Question Standard Price and Volume - Standards: Direct materials 17.0 yards per awning at $15.00 per yard Direct labor 2.0 hours per awning at $14.00 per hour Variable MOH standard rate $8.00 per direct labor hour Predetermined fixed MOH standard rate $7.00 per direct labor hour Total budgeted fixed MOH cost $18,500 ble explai Print Done Actual Results Purchased 27,750 yards at a total cost of $407,925 Used 24,700 yards in producing 1,500 awnings Actual direct labor cost of $41,615 for a total of 2,870 hours Actual variable MOH $23,534 Actual fixed MOH $21,500 sible explai Print Done