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Requirement 1. What is the static budget number of crates for 20207 Determine the formula to calculate the amount. Then, enter the amounts in the formula to calculate the static budget number of crates. a Budgeted pairs shipped h - Budgeted pairs per crate Static budget number of crates " - 250,000 = 10 = 25,0007 crates Requirement 2. What is the flexible budget number of crates for 20207 Determine the formula to calculate the amount. Then, enter the amounts in the formula to calculate the flexible budget number of crates. Actual pairs shipped B = Budgeted pairs per crate i Flexible budget number of crates " " 175,000 = 10 = 17-53'3'.:-31.95 Requirement 3. What is the actual number of crates shipped in 20207 Determine the formula to caleculate the amount. Then, enter the amounts in the formula to calculate the actual number of crates. " " Actual pairs shipped = Actual pairs per crate Lctual number of crates .| A 175,000 - g - 21,875 crates Requirement 4. Assuming fixed overhead is allocated using crate-packing hours, what is the predetermined fized overhead allocation rate? Determine the formula first. Then enter the amounts to calculate the static budget ficed overhead rate. (Enter your answer to the nearest cent.) a A Budgeted fixed costs = Budgeted packing hours = Static budget fced overhead rate " - " 5 55,000 = 27,500 = 3 2.00 per hour Requirement 5. For variable direct batch-level costs, compute the price and efficiency variances. Begin by calculating the following amounts. Budgeted Hours Allowed Actual Hours for Actual Qutput Actual Variable L = Owerhead Budgeted Rate Budgeted Rate 5 472,500 5 433,125 5 423,500 Compute the price {spending)} and efficiency variances. (Label each variance as favorable (F) or unfavorable (U]} - The price (spending) variance is F 3s3rs U " The efficiency variance is 5 8625 U Requirement 6. For fixed overhead costs, compute the spending and the production-volume variances. Begin by calculating the following amounts. Budgeted Hours Allowed for Actual Output Actual Fixed Static Budget Overhead Fixed Overhead Budgeted Rate S 57,500 55,000 38.500 Compute the spending and production volume variances. (Label each variance as favorable (F) or unfavorable (U).) The spending variance is $ 2,500 U The production-volume variance is $ 16.500 UPointe's Fleet Feet, Inc., produces dance shoes for stores all over the world. While the pairs of shoes are boxed individually, they are crated and shipped in batches. The shipping department ecords both variable direct batch-level costs and fixed batch-level overhead costs. The following information pertains to shipping department costs for 2020. (Click to view the information.) Read the requirements X X Requirements Data table 1- What is the static budget number of crates for 2020? Static-Budget What is the flexible budget number of crates for 2020? Amounts Actual Results What is the actual number of crates shipped in 2020? Pairs of shoes shipped 225,000 180,000 Assuming fixed overhead is allocated using crate-packing hours, what is the Average number of pairs of shoes per crate 15 10 predetermined fixed overhead allocation rate? 5. For variable direct batch-level costs, compute the price and efficiency Packing hours per crate 0.9 hours 1.1 hour variances. Variable direct cost per hour 8 5 16 6. For fixed overhead costs, compute the spending and the production-volume 69 Fixed overhead cost 54,000 $ 51.500 variances Print Done Print Done