Question 1 View Policies Current Attempt in Progress Parsons Company is planning to produce 2,900 units of product in 2020. Each unit requires 2.00 pounds of materials at $7.00 per pound and a half hour of labor at $16.00 per hour. The overhead rate is 60% of direct labor. Compute the budgeted amounts for 2020 for direct materials to be used, direct labor, and applied overhead. $ Direct materials Direct labor Overhead $ Compute the standard cost of one unit of product. (Round answer to 2 decimal Standard cost $ Question 3 View Policies Current Attempt in Progress The standard cost of Product B manufactured by Pharrell Company includes 3.5 units of direct materials at $5.10 per unit. Du $4.90 per unit, and 27,300 units of direct materials are used to produce 7.700 units of Product B. 27,300 units of direct materials are purchased at a cost of (a) Compute the total materiais variance and the price and quantity variances Total materiais variance Materiais price variance Materials quantity variance Compute the totsmateriais variance and the price and quantity variances, assuming the purchase price is $5.15 and the quantity purchased and used is 26,700 units 1 Total materials variance Materials price variance Materials quantity variance CUCULIUILT View Policies Current Attempt in Progress Lewis Company's standard labor cost of producing one unit of Product DD is 3.70 hours at the rate of $10.60 per hour. During August, 40,400 hours of labor are incurred at a cost of $10.75 per hour to produce 10,800 units of Product DD. Compute the total labor variance Total labor variances Compute the labor price and quantity variances Labobrice variance Labor quantity variances Compute the bor price and quality variances, assuming the standard 10 hours of rector $10.95 per hour Labor price varlance 5 Labor quantity variance s Question 5 View Policies Current Attempt in Progress Manufacturing overhead data for the production of Product H by Shakira Company, assuming the company uses a standard cost system, are as follows. Overhead incurred for 45,900 actual direct labor hours worked Overhead rate (variable $8;fixed $2) at normal capacity of 59,900 direct labor hours Standard hours allowed for work done $464,000 $10 46,200 Compute the total overhead variance. Total overhead variance $ Neither favorable nor untavorable Unfavorable Favorable eTextbook and Media Question 7 View Policies Current Attempt in Progress Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials--1 pound plastic at $8.00 per pound Direct labor-15 hours at $11.90 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit $8.00 17.85 9.75 11.25 The predetermined manufacturing overhead rate is $14.00 per direct Isbor hour $21.001.5). It was computed from a master manufacturing overhead but based on normal production of 8.250 direct labor hours (5.500 units for the month. The master budget showed total variable costs of $53625156.50 per hour and totale overhead costs of $61.875 $750 per hour. Actual costs for October in producing 4.200 units were as follows Direct materials (4,380 pounds) Direct labor (6,190 hours) Variable overhead Find overhead Total manufacturing costs $35,478 75,518 67,030 23.170 $201.196 The purchasing department buys the quantities of raw materials that are expected to be used in product on each month. w materialienories, therefore, can be ignored Computer of the materialabor variantes The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. Compute all of the materials and labor variances. Total materials variance Ulosbe Materials price variance Nether Materials quantity variance $ Total labor variance Labor price variance Labor quantity variance Compute the total overhead variance Total overhead variances Rudd Clothiers is a small company that manufactures tallmen's sults. The company has used a standard cost accounting system. In May 2020, 10,500 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14 500 direct labor hours. All materials purchased were used Cost Element Direct materials Direct labor Overhead Standard (per unit) Actual yards at $450 per yard $419,320 for 95,300 yards (54.40 per yard) 1.10 hours at $14.00 per hour $173,745 for 12,150 hours ($14.30 per hour) 1.10 hours at $6.30 per hour wed $3.7: variable $260) $49.100 fixed overhead $37500 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fed overhead costs were $53.650, and budgeted variable overhead was $37,700 Compute the total price and quantity variances for 2 decimal places, 52.75 and final answers to decimal places . 52) (1) Total materials variance $ Materials price variance Materials quantity variances (21 Total labor variance Labor price variance $ Labor quantity variance $ Compute the total overhead variance