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Score: 0 of 1 pt 9 of 10 (10 complete) HW Score: 80%, 8 of 10 pts X E11-28A (similar to) Question Help Earthern Ware is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) E (Click the icon to view the actual results.) Read the requirements Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials) First determine the formula for the price variance, then compute the price variance for direct materials Actual quantity purchased Standard price Actual price DM price variance U Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Clear All Check Answer Standards - X Direct materials (resin). Direct labor Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate... 12 pounds per pot at a cost of $6.00 per .. pound 3.0 hours at a cost of $20.00 per hour $5.00 per direct labor hour S43,900 $9.00 per direct labor hour (DLH) Print Done i Actual Results Earthern Ware allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,700 flower pots: Purchased 21,750 pounds at a cost of $6.30 per pound; Direct materials... used 21,250 pounds to produce 1,700 pots Worked 3.4 hours per flower pot (5,780 total DLH) at a Direct labor cost of $19.00 per hour Actual variable manufacturing $5.40 per direct labor hour for total actual variable overhead ... manufacturing overhead of $31,212 Actual fixed manufacturing overhead $43,400 Standard fixed manufacturing overhead allocated based on actual production $45,900 Print Done Requirements 1. Compute the direct material price variance and the direct material quantity variance. 2. Who is generally responsible for each variance? 3. Interpret the variances. Print Done