please help with calatinh the costs and variances
Noufical Awning inanufactures awnings and uses a standard cost system Nautical allocates Overhead bssed on the numbet of direct labor hours. The tollowing are the company/5 cost and standards data: (Cick the icon to view the standards.) Actual cost and operating data trom the moat rocent month follows: (Click the icon to view the actual results.) All manufacturing overhead is alocated on the batis of firect labor hours. Pead the requiemonts Requirement 1, Calculate the standard cost of one awning Requirement 2a. Calcilate the direct material varianoes. (Enier the variances as positive numben. Entor curcency amounts to the nearest cent and your answers to the nearest whole ded, Label the variance as favorable (F) or unfavorable (U). Aboreviations used DM = Direct malerias.) Requirement 2b. Calculato the dreet tabar varianoss. (Enter ith verances as poeltve numbers Enter cuirency amounts to the noarest cent and your antwers to the nosest whele dolat. Label the varianob as tworatie (F) or urfavorable (U). Nbbreviabons used DL = Derect labori) First desermina the formula far the mite variance, then compule the iate variance for direct labor. Fint desemine the fomada tor the effciency variance, then cempute the eficiency variance for direct inbor fharest whole dollar, tabel the vurance is fercrable (F) or untaverable (U).) Varabla ovelenad Requirement 2 e. Ceiculate the variable manutacturng averhead vanances, (E.tter the variances es poseye rambers Enter currency amounts to the nearest cent and your antwers to the nearest whole dollar Label the vaiance as tavorable (F) or unfavorable (U).) Fint determine the formula for the rate variance, then compufe the rate varianco for variable mandfacturing overhesd, (Round infonm caloulibors to the nourost cent.) Now compute the variable manutacturing overtiesd efficiency variance. First determine the formuls for tie effciency variance, then compute the efficiency variance for vinable manutacturing bvehead. Requirement 2d. Calculate the fixed manuficturing overheod variances (Ense the variance as a poeitive mumber. [abe the variance as tavorable (F) or untavorable (M)) Bogin by computing the fued manufacturing overheod budget variance. Fist determine the forrnula foc the budgot variance, then compute the budget variance for ficed mavidacturng overhees Requirement 2d. Culculate twe fued mianufacturing owiteod vanances, GEnter the veriance as a porilive number, Label the variance as tevoratie (F) ar unthuorable (U)) Direct Labor: Are any of the variances ikely to be interreloted? The varance is iteily to be relaled to the variance. it is laey that Nouscal hweng This may have resulted in Standard Price and Volume Standards: Direct materials 18.0 yards per awning at $10.00 per yard Direct labor 2.0 hours per awning at $13.00 per hour Variable MOH standard rate $5.00 per direct labor hour Predetermined fixed MOH standard rate $10.00 per direct labor hour Total budgeted fixed MOH cost $34,000 Actual Results Purchased 35,460 yards at a total cost of $333,324 Used 31,300 yards in producing 1,800 awnings Actual direct labor cost of $45,457 for a total of 3,470 hours Actual variable MOH$19,085 Actual fixed MOH$39,500 Actual Results Purchased 35,460 yards at a total cost of $333,324 Used 31,300 yards in producing 1,800 awnings Actual direct labor cost of $45,457 for a total of 3,470 hours Actual variable MOH$19,085 Actual fixed MOH$39,500 unfavorable (U). Abbreviations used: DM = Direct materials.) First determine the formula for the price variance, then compute the price variance for direct Standard Price and Volume Standards: Direct materials 18.0 yards per awning at $10.00 per yard Direct labor 2.0 hours per awning at $13.00 per hour Variable MOH standard rate $5.00 per direct labor hour Predetermined fixed MOH standard rate $10.00 per direct labor hour Total budgeted fixed MOH cost $34,000 Requirement 1. Calculate the standard cost of one awning. Requirement 2a. Calculate the direct material variances. (Enter the variances as positive numbers. Enter currency amounts to the nearest c Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials.) First determine the formula for the price variance, then compute the price variance for direct materials. Requirement 2b. Calculate the direct labor variancos. (Enter the variances as positivo numbers. Enter currency amounts to the nearest cent and Label the variance as favorable ( (T) or unfavorable (U). Abbreviations used: DL= Direct labor.) First determine the formula for the rate variance, then compute the rate variance for direct tabor. First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. Requirement 2c. Calculate the variable manufacturing overhead variances. (Enter the vatiances as positive numbers. Enter currency amounts to nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).) First determine the formula for the rate variance, then compute the rate variance for variable manufacturing overhead, (Round interim calculations Now compute the variabie manutacturing overhead efficiency variance. First determine the formula for the efficiency variance, then compute the effic Aunther Varisble overhead Requirement 3. Explain what each of the variances you calculated means and give at least one possible explanation for each of those variances. Dire \begin{tabular}{l} \( \frac{\text { Vat }}{\hline \text { Dk }} \) \\ Dh \\ Dii \\ DVi \\ D \\ v \end{tabular} Variable manutacturine everhead. Are ary of the variances threly to be interredated? The varance in whely to be related to the variance. if is hecy ihat Naubcal Awning Thas may have resulles in
