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: 4 pounds at $8.00 per pound $32.00 Direct labor: 2 hours at $16 per hour 32.00 Variable overhead: 2 hours at $6 per hour 12.00 Total standard variable cost per unit $76.00 The company also established the following cost formulas for its selling expenses: Variable Cost per Unit Sold Advertising Sales salaries and commissions Shipping expenses Fixed Cost per Month $ 320,000 $ 340,000 $24.00 $15.00 The planning budget for March was based on producing and selling 32,000 units. However, during March the company actually produced and sold 37,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.40 per pound. All of this material was used in production b. Direct laborers worked 67,000 hours at a rate of $1700 per hour c. Total variable manufacturing overhead for the month was $422,100. d. Total advertising, sales salaries and commissions, and shipping expenses were $329,000,$515,000, and $235.000, respectively Required: 1. What raw materials cost would be included in the company's flexible budget for March? The company also established the following cost formulas for its selling expenses: Variable Cost per Fixed Cost per Month $ 320,000 $ 340,000 Advertising Sales salaries and commissions Shipping expenses Unit Sold $24.00 $15.00 The planning budget for March was based on producing and selling 32,000 units. However, during March the company actually produced and sold 37,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.40 per pound. All of this material was used in production. b. Direct-laborers worked 67,000 hours at a rate of $17.00 per hour. C. Total variable manufacturing overhead for the month was $422,100. d. Total advertising, sales salaries and commissions, and shipping expenses were $329,000, $515,000, and $235,000, 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.) Materials price variance Variable Cost per Unit Sold Fixed Cost per Month $ 320,000 $ 340,000 Advertising Sales salaries and commissions Shipping expenses $24.00 $15.00 The planning budget for March was based on producing and selling 32,000 units. However, during March the company actually produced and sold 37,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.40 per pound. All of this material was used in production. b. Direct-laborers worked 67,000 hours at a rate of $17.00 per hour. C. Total variable manufacturing overhead for the month was $422,100. d. Total advertising, sales salaries and commissions, and shipping expenses were $329,000, $515,000, and $235,000, respectively. 4. If Preble had purchased 182,000 pounds of materials at $7.40 per pound and used 160,000 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.) Materials quantity variance Sales salaries and commissions Shipping expenses $ 320,000 $ 340,000 $24.00 $15.00 The planning budget for March was based on producing and selling 32,000 units. However, during March the company actually produced and sold 37,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.40 per pound. All of this material was used in production. b. Direct-laborers worked 67,000 hours at a rate of $17.00 per hour. c. Total variable manufacturing overhead for the month was $422,100. c. Total advertising, sales salaries and commissions, and shipping expenses were $329,000, $515,000, and $235,000, respectively. 5. If Preble had purchased 182,000 pounds of materials at $7.40 per pound and used 160,000 pounds in production, what would be the materials price variance for March? (Indicate the effect of each variance bg selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) Materials price variance Cost per Unit Sold Advertising Sales salaries and commissions Shipping expenses Fixed cost per Month $ 320,000 $ 340,000 $24.00 $15.00 The planning budget for March was based on producing and selling 32,000 units. However, during March the company actually produced and sold 37,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.40 per pound. All of this material was used in production. b. Direct-laborers worked 67,000 hours at a rate of $17.00 per hour. c. Total variable manufacturing overhead for the month was $422,100. d. Total advertising, sales salaries and commissions, and shipping expenses were $329,000, $515,000, and $235,000, 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 (1.e., zero variance.). Input the amount as a positive value.) Direct labor efficiency variance The planning budget for March was based on producing and selling 32,000 units. However, during March the company actually produced and sold 37,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.40 per pound. All of this material was used in production b. Direct-laborers worked 67,000 hours at a rate of $17.00 per hour. c. Total variable manufacturing overhead for the month was $422,100. d. Total advertising, sales salaries and commissions, and shipping expenses were $329,000, $515,000, and $235,000, respectively, 8. What is the direct labor rate variance for March? (Indicate the effect of each variance by selectig "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance.). Input the amount as a positive value.) Direct labor rate variance