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please help!!!! :) Rip Tide Company manufactures surfboards. Its standard cost information follows Standard Standard Price Standard Quantity Rate) Unit Cost Direct materials (fiberglass) Direct
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Rip Tide Company manufactures surfboards. Its standard cost information follows Standard Standard Price Standard Quantity Rate) Unit Cost Direct materials (fiberglass) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($24,000 300 units) 15 sq.ft 10 hrs 10 hrs $5 per sq.ft. 15 per hr 6 per hr 75.00 150.00 60.00 $ $ 80.00 Rip Tide has the following actual results for the month of June Number of units produced and sold Number of square feet of fiberglass used Cost of fiberglass used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 316 4,960 $ 28,272 3,100 $48,050 $15,190 $ 20,900 Required: 1. Calculate the direct materials price, quantity, and total spending variances for Rip Tide. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable,"U" for unfavorable.) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending VarianceStep by Step Solution
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