Q Search Sheet Chapter_7_Inc-Class Group Work 2 (1) View Formulas Data Review + Share Home 051 Insert x v Page Layout fx 2 3 The actual information pertains to the month of June. As part of the budgeting process, Colonial Fencing Company developed the following static budget for September. Colonial is in the process of preparing the flexible budget and understanding the results. Actual Results 19.000 Flexible Budget Static Budget 20.500 Sales volume (in units) $ 615,000 10 Sales revenues 11 Variable costs 510,000 256.000 300.000 13 Contribution margin $ 254,000 315,000 -228.000 15 Fixed costs 16 Operating profit 235.000 19.000 87.000 19 The flexible budget for sales revenues will be? Nancy's Draperies manufactures curtains. A certain window curtain requires the following: 25 Direct materials standard 26 Direct manufacturing labor standard 10 square yards at $5 per yard 5 hours at $10 28 During the second quarter, the company made 1,500 curtains and used 14,000 square yards of fabric costing $72,000. Direct labor totaled 7,600 hours for $83,600. 30 Required: Compute the direct materials price and efficiency variances for the quarter. Compute the direct manufacturing labor price and efficiency variances for the quarter. Direct materials variances: Actual unit cost Price variance Efficiency variance b. Direct manufacturing labor variances: Actual labor rate Price variance Group 2 + Ready 0 - 0 + 90%