Required information [The following information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 5 kg at $8.00 per kg Direct labour: 2 hours at $14 per hour Variable overhead: 2 hours at $5 per hour Total standard cost per unit $40.00 28.00 10.00 $78.00 The company planned to produce and sell 25,000 units in March. However, during March the company actually produced and sold 30,000 units and incurred the following costs: a. Purchased 160,000 kg of raw materials at a cost of $7.50 per kg. All of this material was used in production. b. Direct labour: 55,000 hours at a rate of $15.00 per hour. c. Total variable manufacturing overhead for the month was $280,500. 2. What is the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.).) Answer is complete but not entirely correct. Materials quantity variance $200,000 U Required information [The following information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 5 kg at $8.00 per kg Direct labour: 2 hours at $14 per hour Variable overhead: 2 hours at $5 per hour Total standard cost per unit $40.00 28.00 10.00 $78.00 The company planned to produce and sell 25,000 units in March. However, during March the company actually produced and sold 30,000 units and incurred the following costs: a. Purchased 160,000 kg of raw materials at a cost of $7.50 per kg. All of this material was used in production. b. Direct labour: 55,000 hours at a rate of $15.00 per hour. c. Total variable manufacturing overhead for the month was $280,500. 6. What is the labour efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.).) Labour efficiency variance Required information [The following information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 5 kg at $8.00 per kg Direct labour: 2 hours at $14 per hour Variable overhead: 2 hours at $5 per hour Total standard cost per unit $40.00 28.001 10.00 $78.00 The company planned to produce and sell 25,000 units in March. However, during March the company actually produced and sold 30,000 units and incurred the following costs: a. Purchased 160,000 kg of raw materials at a cost of $7.50 per kg. All of this material was used in production. b. Direct labour: 55,000 hours at a rate of $15.00 per hour. c. Total variable manufacturing overhead for the month was $280,500. 8. What is the variable overhead efficiency variance for March? (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.)) Answer is complete but not entirely correct. Variable overhead efficiency variance $ 25,000 Skylnc provides in-flight meals for a number of major airlines. One of the company's products is stuffed cannelloni with roasted pepper sauce, fresh baby corn, and spring salad. During the most recent week, the company prepared 6,000 of these meals, using 1,150 direct labour-hours. The company paid these direct labour workers a total of $17,250 for this work, or $15 per hour. According to the standard cost card for this meal, it should require 0.20 direct labour-hours at a cost of $14 per hour. Required: 1-a. What direct labour cost should have been incurred to prepare 6,000 meals? Answer is complete and correct. Total standard direct labour cost $ 16,800 1-b. How much does this differ from the actual direct labour cost? (Indicate the effect of variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (ie., zero variance).) Answer is complete and correct. Total direct labour variance 450 2. Break down the difference computed in requirement 1-b above into a labour rate variance and a labour efficiency variance. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) 1-b. How much does this differ from the actual direct labour cost? (Indicate the effect of variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Answer is complete and correct. Total direct labour variance $ 450 2. Break down the difference computed in requirement 1-b above into a labour rate variance and a labour efficiency variance. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Labour rate variance Labour efficiency variance