please solve req. 2A and show work!!
P11-50A (similar to) Question Help Pickul Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) Actual cost and operating data from the most recent month are as follows: B (Click the icon to view the actual results.) All manufacturing overhead is allocated on the basis of direct labor hours. Read the requirements. Requirement 1. Calculate the standard cost of one awning. Standard cost Standard cost per unit Direct materials 280 Direct labor 24 Variable MOH 14 Fixed MOH $ 324 Total standard cost Requirement 2a. Calculate the direct material variances. (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and your answers to the nearest whole dollar, 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. Actual quantity purchased 32.550 Standard price 14.00 Actual price 13.70 ) = DM price variance >= $ 9.765 F Determine the formula for the quantity variance, then compute the quantity variance for direct materials. Choose from any list or enter any number in the input fields and then click Check Answer ? P11-50A (similar to) Question Help Pickul Awning manufactures awnings and uses a standard cost system. number of direct labor hours. The following are the company's cost and (Click the icon to view the standards.) Actual Results Standard Price and Volume S 280 Standards: Direct materials Direct labor Variable MOH 24 Purchased 32,550 yards at a total cost of $445,935 Used 28,800 yards in producing 1,500 awnings Actual direct labor cost of $35,301 for a total of 2,870 hours Actual variable MOH $9,184 6 14 Fixed MOH Direct materials 20.0 yards per awning at $14.00 per yard Direct labor 2.0 hours per awning at $12.00 per hour Variable MOH standard rate $3.00 per direct labor hour Predetermined fixed MOH standard rate S7.00 per direct labor hour Total budgeted fixed MOH cost $19,500 324 Actual fixed MOH $25.000 Total standard cost Requirement 2a. Calculate the direct material variances. (Enter the varie Abbreviations used: DM = Direct materials.) Print Done Print First determine the formula for the price variance, then compute the price rancio O CO TORONTO Done Actual price Actual quantity purchased x1 32.550 Standard price 14.00 ) = DM price variance ) = $ 9.765 F XS $ 13.70 Determine the formula for the quantity variance, then compute the quantity variance for direct materials. Standard price x(Standard quantity allowed x 30000 Actual quantity used 32550 DM quantity variance 35700 F Y 14.00 Choose from any list or enter any number in the input fields and then click Chock
