pls answer req 3

W 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: (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 280 Direct materials Direct labor 24 Variable MOH 6 Fixed MOH 14 $ 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 Standard price Actual price x x( $ DM price variance 1 $ 9,765 F 32,550 14.00 13.70 Determine the formula for the quantity variance, then compute the quantity variance for direct materials. Choose from any drop-down list and then click Check Answer. parts remaining Clear All Final Check % 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: E: (Click the icon to view the actual results.) All manufacturing overhead is allocated on the basis of direct labor hours. Read the requirements. Standard price x Standard quantity allowed Actual quantity used 28,800 DM quantity variance 16,800 F $ 14.00 x 30,000 ) = Requirement 2b. Calculate the direct labor 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: DL = Direct labor.) First determine the formula for the rate variance, then compute the rate variance for direct labor. Actual hours Standard rate Actual rate DL rate variance x x( $ 2,870 12.00 12.30 861 U First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. Standard rate x Standard hours allowed Actual hours DL efficiency variance 1,560 F $ 12.00 XO 3,000 2,870 = $ Requirement 2c. Calculate the variable manufacturing overhead 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).) First determine the formula for the rate variance, then compute the rate variance for variable manufacturing overhead. (Round interim calculations to the nearest cent.) Choose from any drop-down list and then click Check Answer. ? parts remaining Clear All Final Check % P11-50A (similar to) s 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: (Click the icon to view the actual results.) All manufacturing overhead is allocated on the basis of direct labor hours. Read the requirements. Variable overhead Actual hours x Standard rate Actual rate rate variance 2,870 x( $ 3.00 3.20 $ 574 U 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 Standard rate x Standard hours allowed Actual hours ) = efficiency variance 390 F $ 3.00 X 3,000 2,870 Requirement 2d. Calculate the fixed manufacturing overhead variances. (Enter the variance as a positive number. Label the variance as favorable (F) or unfavorable (U).) Begin by computing the fixed manufacturing overhead budget variance. First determine the formula for the budget variance, then compute the budget variance for fixed manufacturing overhead. Fixed MOH Actual fixed overhead Budgeted fixed overhead = budget variance 5,500 u 25,000 19,500 Choose from any drop-down list and then click Check Answer. A parts Clear All Final Check % 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: BE(Click the icon to view the actual results.) All manufacturing overhead is allocated on the basis of direct labor hours. Read the requirements. Fixed MOH Actual fixed overhead Budgeted fixed overhead = budget variance $ 25,000 19,500 5,500 U Now compute the fixed manufacturing overhead volume variance. First determine the formula for the volume variance, then compute the volume variance for fixed manufacturing overhead. Fixed MOH Std. fixed overhead cost allocated to production volume variance Budgeted fixed overhead 19,500 $ 21,000 1,500 F Requirement 3. Explain what each of the variances you calculated means and give at least one possible explanation for each of those variances. Direct materials: Variance Meaning Possible explanation DM price DM quantity Choose from any drop-down list and then click Check Answer. 4 parts lor All Final Chook