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 materials: 5 pounds at $10 per pound	$	50
Direct labor: 2 hours at $15 per hour		30
Variable overhead: 2 hours at $5 per hour		10
Total standard cost per unit	$	90

The planning budget for March was based on producing and selling 32,000 units. However, during March the company actually produced and sold 37,600 units and incurred the following costs:

a.	Purchased 200,000 pounds of raw materials at a cost of $9.40 per pound. All of this material was used in production.
b.	Direct laborers worked 75,000 hours at a rate of $16 per hour.
c.	Total variable manufacturing overhead for the month was $558,750.

rev: 10_13_2014_QC_56635

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.).)

5.

If Preble had purchased 190,000 pounds of materials at $9.40 per pound and used 200,000 pounds in production, what would be 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.). Do not round intermediate calculations.)

6.

If Preble had purchased 190,000 pounds of materials at $9.40 per pound and used 200,000 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.). Do not round intermediate calculations.)

9.	What is the labor rate 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.). Do not round intermediate calculations.)

10.

value: 0.66 points

Required information

10.	What is the 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.). Do not round intermediate calculations.)

11.

value: 0.66 points

Required information

11.	What is the labor spending 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.). Do not round intermediate calculations.)

12.

value: 0.66 points

Required information

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

13.

value: 0.66 points

Required information

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

14.

value: 0.66 points

Required information

14.	What is the variable overhead rate variance for March? (Round the actual overhead rate to two decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.).)

15.

value: 0.76 points

Required information

15.	What is the variable overhead efficiency variance for March? (Do not round intermediate calculations. Round the actual overhead rate to two decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.).)