Required information [The following information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production basea labor-hours and its standard cost card per unit is as follows: Direct materialu: 5 pounds at $8 per pound Direct labori 3 hours at $15 per hour Variable overhead: 3 hours at $9 per hour Total standard cost per unit $ 40 45 27 $112 The planning budget for March was based on producing and selling 21,000 units. However, during March the comp actually produced and sold 26,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $6.50 per pound. All of this material was used in product b. Direct laborers worked 70,000 hours at a rate of $16 per hour. c. Total variable manufacturing overhead for the month was $655,200. Required: 1. What raw materials cost would be included in the company's planning budget for March? Raw material cost ! 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 labor-hours and its standard cost card per unit is as follows: Direct materials: 5 polands at $8 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $9 per hour Total standard cont per unit $ 40 45 27 $112 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $6.50 per pound. All of this material was used in production b. Direct laborers worked 70,000 hours at a rate of $16 per hour. c. Total variable manufacturing overhead for the month was $655,200. 2. What raw materials cost would be included in the company's flexible budget for March? Raw material con 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 labor-hours and its standard cost card per unit is as follows: Direct materials 5 pounds at $8 per pound Direct labor! 3 hours at $15 per hour Variable overhead: 3 hours at $9 per hour Total standard cost per unit $ 40 45 27 $112 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $6.50 per pound. All of this material was used in production b. Direct laborers worked 70,000 hours at a rate of $16 per hour. c. Total variable manufacturing overhead for the month was $655 200, 3. What is the materials price 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.). Input all amounts as positive values.) Materials price 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 labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $8 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $9 per hour Total standard cont per unit $ 40 45 27 $112 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $6.50 per pound. All of this material was used in production b. Direct laborers worked 70,000 hours at a rate of $16 per hour. c. Total variable manufacturing overhead for the month was $655,200. 4. 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 (1.e., zero variance.). Input all amounts as positive values.) Materials quantity 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 labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $8 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $9 per hour Total standard cost per unit $ 40 45 27 $ 112 The planning budget for March was based on producing and selling 21.000 units. However, during March the company actually produced and sold 26,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $6.50 per pound. All of this material was used in production b. Direct laborers worked 70,000 hours at a rate of $16 per hour. c. Total variable manufacturing overhead for the month was $655,200. 5. If Preble had purchased 185,000 pounds of materials at $6.50 per pound and used 160,000 pounds in production, what would be the materials price 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.). Input all amounts as positive values.) Materials price 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 labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $8 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $9 per hour Total standard coat per unit $ 40 45 27 $112 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $6.50 per pound. All of this material was used in production b. Direct laborers worked 70,000 hours at a rate of $16 per hour. c. Total variable manufacturing overhead for the month was $655,200. 6. Preble had purchased 185,000 pounds of materials at $6.50 per pound and used 160,000 pounds in production, what would be 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.). Input all amounts as positive values.) Materials quantity variance O 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 direc labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $8 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $9 per hour Total standard cost per unit $ 40 45 27 $ 112 The planning budget for March was based on producing and selling 21.000 units. However, during March the company actually produced and sold 26,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $6.50 per pound. All of this material was used in production b. Direct laborers worked 70,000 hours at a rate of $16 per hour. c. Total variable manufacturing overhead for the month was $655,200. 7. What direct labor cost would be included in the company's planning budget for March? Direct labor cost 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 direc labor-hours and its standard cost card per unit is as follows: $ 40 Direct materials: 5 pounds at $8 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at 99 per hour Total standard cost per unit 45 27 $112 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $6.50 per pound. All of this material was used in production b. Direct laborers worked 70,000 hours at a rate of $16 per hour. c. Total variable manufacturing overhead for the month was $655,200. 8. What direct labor cost would be included in the company's flexible budget for March? Direct labor cos