Please help with given managerial accounting practice problems of chapters 9-11.

Cornerstones of managerial accounting

Managerial Accounting Chapters 9-11) Show all work Problem 1 (18 points ) = (3 points each) Use the following information to calculate the variances: Standard: DM (4 pounds @ $5 per pound) DL (3 hours @ $21 per hour) Standard prime cost per unit Actual Results: Units Produced Materials purchased Materials used DL SHOW YOUR WORK! A. Material Price Variance B. Material Usage (Quantity) Variance $ $ $ 1,000 5,000 pounds @ 5.20 per pound 6,000 pounds 3,200 hours @ $20 per hour 20 63 83 C. Total Material Variance D. Labor Rate Variance E. Labor Efficiency Variance F. Total Labor Variance Problem 2 8 points A. Use the following information to prepare the Flexible budget for 500 units, 600 units, and 700 units. DM DL V MOH F MOH 4 Yds 0.75 hours 2 hours $6,000 $6 per yard $50 per hour $25 per hour Flexible Budget 500 units 600 units 700 units Total Budgeted Costs B. Based on the total budgeted costs above, what is budgeted cost per unit? Cost per unit Show work Cost per unit at 500 units at 600 units at 700 units (take to the nearest cent) Problem 3 8 points Use the following information to prepare a performance report. All variable costs are based on DL hours. We had 1,000 actual D.L. hours. Budgeted Numbers: Maintenance Power IL Rent Total F.C. $ $ $ Actual DLH (based on actual) MOH Maintenance Power IL Rent Total Variable rate per DL hour 2,000 $ 3,000 $ $ 30,000 Actual (based on 1,000 DL hours) $ 3,000 $ 4,600 $ 4,000 $ 25,000 0.10 0.60 5.00 Performance Report Budgeted Variance F or U Problem 4 16 points Total Prepare the Budgets given the following information Budgeted sales are expected to be: A. Prepare the sales Budget January February March April May 200 Units 300 Units 400 Units 300 Units 400 Units Selling Price $10 Per unit (5 points) Sales Budget January February March Quarter Budgeted sales in units Times selling price per unit Budgeted sells in dollars B. Prepare the Production Budget Desired ending inventory (5 points) 20% of next months Sales Assume beginning inventory for January meet 20% of the current month January Sales in units Add desired ending Inv. Total needs Less Beginning Inv. Production in units February March Quarter C. Prepare the materials Purchase Budget Desired inventory Material per unit Material cost $ (6 points) 10% of next month's needs in (assume this was met for January's beginning) 3 pounds 0.50 per pound January PRODUCTION in units times materials per unit in lbs. Production need in lbs. Add desired ending inv. (lbs.) Total needs (lbs.) Less beg. Inv. (lbs.) Materials to be Purch. (lbs.) Times cost per pound Total Cost of Purchases February March Quarter 00 DL hours) April May ry's beginning) April