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Regent Corporation uses a standard cost system to account for the costs of its one product. Materials standards are 3 pounds of material at $

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Regent Corporation uses a standard cost system to account for the costs of its one product. Materials standards are 3 pounds of
material at $14.00 per pound, and labor standards are 24 hours of labor at a standard wage rate of $9.0. During July, Regent
Corporation produced 2,300 units. Materials purchased and used totaled 12,100 pounds at a total cost of $144,713. Payroll totaled
$166,780 for 113,150 hours worked.
Required:
a. Calculate the direct materials price variance.
Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or
"None" for no effect (i.e., zero variance).
b. Calculate the direct materials quantity variance.
Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).
c. Calculate the direct materials spending variance.
Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).Delaware Corporation prepared a master budget that included $22,140 for direct materials, $28,000 for direct labor, $16,400 for variable overhead, and $39,000 for fixed overhead. Delaware Corporation planned to sell 4,100 units during the period, but actually sold 4,340 units. What would Delawares fixed overhead cost be if it used a flexible budget for the period based on actual sales?
Multiple Choice
$166,710
$39,000
$36,300
$41,903
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