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

material at $$14\mathrm{.}00$ per pound, and labor standards are $24$ hours of labor at a standard wage rate of $$9\mathrm{.}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 Delaware$$s 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$