Prepare flexible budget reports for manufacturing overhead costs, and comment on findings. (LO 2), AN Using the information in E10-3, assume that in July 2017, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed Costs Indirect labor $8,800 Supervision $4,000 Indirect materials 5,800 Depreciation 1,200 Utilities 3,200 Property taxes 800 Instructions (a) Prepare a flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month. (b) Prepare a flexible budget performance report, assuming that the company worked 8,500 direct labor hours during the month. (c) Comment on your findings. E11-5 Compute materials price and quantity variances. (LO 2), AP The standard cost of Product B manufactured by Pharrell Company includes three units of direct materials at $5.00 per unit. During June, 29,000 units of direct materials are purchased at a cost of $4.70 per unit, and 29,000 units of direct materials are used to produce 9,400 units of Product B. Instructions (a) Compute the total materials variance and the price and quantity variances. (b) Repeat a, assuming the purchase price is $5.15 and the quantity purchased and used is 28,000 units. E11-6 Compute labor price and quantity variances. (LO 3), AP Lewis Company's standard labor cost of producing one unit of Product DD is 4 hours at the rate of $12.00 per hour. During August, 40,600 hours of labor are incurred at a cost of $12.15 per hour to produce 10,000 units of Product DD. Instructions (a) Compute the total labor variance. (b) Compute the labor price and quantity variances. (c) Repeat b, assuming the standard is 4.1 hours of direct labor at $12.25 per hour. E11-7 Compute materials and labor variances. (LO 2, 3), AP Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (8 pounds at $2.50 per pound) $20 Direct labor (3 hours at $12.00 per hour) $36 During the month of April, the company manufactures 230 units and incurs the following actual costs. Direct materials purchased and used (1,900 pounds) $5,035 Direct labor (700 hours) $8,120 Instructions Compute the total, price, and quantity variances for materials and labor. E11-8 Compute the materials and labor variances and list reasons for unfavorable variances. (LO 2, 3), AN The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Quantities Actual labor rate $13 per hour Actual hours incurred and used 4,150 hours Costs Quantities Actual materials price $128 per ton Actual quantity of materials purchased and used 1,220 tons Standard labor rate $12.50 per hour Standard hours used 4,300 hours Standard materials price $130 per ton Standard quantity of materials used 1,200 tons Instructions (a) Compute the total, price, and quantity variances for materials and labor. (b) Provide two possible explanations for each of the unfavorable variances calculated above, and suggest where responsibility for the unfavorable result might be placed.

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