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 pounds at $9.00 per pound $ 45.00 Direct labor: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard variable cost per unit $114.00 The company also established the following cost formulas for its selling expenses Variable Cost per Unit Sold Fixed Cost per Month $ 300,000 $ 300,000 Advertising Sales salaries and commissions Shipping expenses $22.00 $13.00 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs a Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production b. Direct-laborers worked 65,000 hours at a rate of $15.00 per hour. c. Total variable manufacturing overhead for the month was $612,300 d. Total advertising, sales salaries and commissions, and shipping expenses were $303,000, $505,000, and $215,000, respectively 2. What is the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) Materials quantity variance 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 pounds at $9.00 per pound $ 45.00 Direct labor: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard variable cost per unit $114.00 The company also established the following cost formulas for its selling expenses: Variable Cost per Unit Sold Fixed Coat per Month $ 300,000 $ 300,000 Advertising Sales salaries and commissions Shipping expenses $22.00 $13.00 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production b. Direct-aborers worked 65,000 hours at a rate of $15.00 per hour. Total variable manufacturing overhead for the month was $612,300. d. Total advertising, sales salaries and commissions, and shipping expenses were $303,000, $505,000, and $215,000, respectively 3. What is the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) 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 pounds at $9.00 per pound $ 45.00 Direct labor: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard variable cost per unit $114.00 The company also established the following cost formulas for its selling expenses: Variable Cost per Unit Sold Fixed Cost per Month $ 300,000 $ 300,000 Advertising Sales salaries and commissions Shipping expenses $22.00 $13.00 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production b. Direct-laborers worked 65,000 hours at a rate of $15.00 per hour. c. Total variable manufacturing overhead for the month was $612,300. d. Total advertising, sales salaries and commissions, and shipping expenses were $303,000, $505,000, and $215,000, respectively. 4. If Preble had purchased 180,000 pounds of materials at $7.20 per pound and used 155,000 pounds in production, what would be the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) Matenals quantity variance 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 pounds at $9.00 per pound $ 45.00 Direct labor: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard variable cost per unit $114.00 The company also established the following cost formulas for its selling expenses: Variable Cost per Unit Sold Fixed Cost per Month $ 300,000 $ 300,000 Advertising Sales salaries and commi3310n3 Shipping expenses $22.00 $13.00 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24.800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production b. Direct-laborers worked 65,000 hours at a rate of $15.00 per hour. c. Total variable manufacturing overhead for the month was $612,300. d. Total advertising, sales salaries and commissions, and shipping expenses were $303,000, $505,000, and $215,000. respectively. 6. What direct labor cost would be included in the company's flexible budget for March? Direct labor cost 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 pounds at $9.00 per pound $ 45.00 Direct labor: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard variable cost per unit $114.00 The company also established the following cost formulas for its selling expenses: Variable Cost per Unit Sold Fixed Cost per Month $ 300,000 $ 300,000 Advertising Sales salaries and commissions Shipping expenses $22.00 $13.00 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound, All of this material was used in production b. Direct-laborers worked 65,000 hours at a rate of $15.00 per hour c. Total variable manufacturing overhead for the month was $612,300. d. Total advertising, sales salaries and commissions, and shipping expenses were $303,000, $505.000, and $215,000, respectively 7. What is the direct labor efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) Direct labor efficiency vanance 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 pounds at $9.00 per pounds 45.00 Direct labor: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard variable cost per unit $114.00 The company also established the following cost formulas for its selling expenses Variable Cost per Unit Sold Fixed Cost per Month $ 300,000 $ 300,000 Advertising Sales salaries and commissions Shipping expenses $22.00 $13.00 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production b. Direct-laborers worked 65.000 hours at a rate of $15.00 per hour c Total variable manufacturing overhead for the month was $612,300. d. Total advertising, sales salaries and commissions, and shipping expenses were $303,000, $505,000, and $215,000. respectively. 9. What variable manufacturing overhead cost would be included in the company's flexible budget for March? Variable manufacturing overhead cost 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 pounds at $9.00 per pound $ 45.00 Direct labor: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $9 per hour 27.00 Total standard variable cost per unit $114.00 The company also established the following cost formulas for its selling expenses Variable Cost per Unit Sola Advertising Sales salaries and commissions Shipping expenses Fixed Coat per Month $ 300,000 $ 300,000 $22.00 $13.00 The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production b. Direct-laborers worked 65,000 hours at a rate of $15.00 per hour c. Total variable manufacturing overhead for the month was $612,300. d. Total advertising, sales salaries and commissions, and shipping expenses were $303,000, $505,000, and $215,000. respectively 10. What is the variable overhead efficiency variance for March? (Indicate the effect of each variance by selecting for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount os a positive value.) Variable overhead efficiency vanance IN