Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows:

Direct Material: 5 lbs. @ 8.00 per pound- $40

Direct Labor: 2 hours @ 14 per hour- $28

Variable Overhead: 2 hours @ 5 per hour- $10

Total Standard Variable cost per Unit- $78

The planning budget for March was based on producing and selling 25,000 units. However, during March the company actually produced and sold 30,000 units and incurred the following cost:

A. Purchased 160,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production.

B. Direct laborers worked 55,000 hours at a rate of $15 per hour.

C. Total variable manufacturing overhead for the month was $280,500.

D. Total advertising, salaries & commissions and shipping expenses were $210,000 $455,000 and $115,000, respectively.

Required: PLEASE SHOW WORK

1. What raw material cost would be included in the companys planning budget for March?

2. What raw materials costs would be included in the companys flexible budget for March?

3. What is the materials price variance for March?

4. What is the materials quantity variance for March?

5. If Preble had purchased 170,000 pounds of materials at $7.50 per pound and used 160,000 pounds in production, what would be the materials price variance for March?

6. If Preble had purchased 170,000 pounds of materials at $7.50 per pound and used 160,000 pounds in production, what would be the materials quantity variance for March?

7. What direct labor cost would be included in the companys planning budget for March?

8. What direct labor cost would be included in the companys flexible budget for March?

9. What is the labor rate variance for March?

10. What is the labor efficiency variance for March?

11. What is the labor spending variance for March?

12. What variable manufacturing overhead cost would be included in the companys planning budget for March?

13. What variable manufacturing overhead cost would be included in the companys planning budget for March?

14. What is the variable overhead rate variance for March?

15. What is the variable overhead efficiency variance for March?

Note: All supporting calculations need to be provided