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 59 per pound Direct labori 3 hours at $14 per hour Variable overhead: 3 hours at $9 per hour Total standard cost per unit The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production b. Direct laborers worked 65,000 hours at a rate of $15 per hour. C. Total variable manufacturing overhead for the month was $612,300. 5. If Preble had purchased 180,000 pounds of materials at $7.20 per pound and used 155,000 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 (ie, 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 materialet 5 pounds at 59 per pound Direct labori 3 hours at $14 per hour Variable overheads 3 hours at 59 per hour Total standard cost per unit The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $720 per pound. All of this material was used in production b. Direct laborers worked 65,000 hours at a rate of $15 per hour c. Total variable manufacturing overhead for the month was $612,300. 6. If Preble had purchased 180.000 pounds of materials at $7.20 per pound and used 155,000 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 (ie., zero variance.). Input all amounts as positive values.) Materials quantity varianco 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 59 per pound Direct labori 3 hours at 514 per hour Variable overheads 3 hours at 59 per hour Total standard cont per unit The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production b. Direct laborers worked 65,000 hours at a rate of $15 per hour C. Total variable manufacturing overhead for the month was $612,300, 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 direct labor-hours and its standard cost card per unit is as follows: Direct materialst5 pounds at 59 per pound Direct labori 3 hours at $10 per hour Variable overheads hours at 39 per hour Total standard cost per unit The planning budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 24,800 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $720 per pound. All of this material was used in production b. Direct laborers worked 65,000 hours at a rate of $15 per hour. C. Total variable manufacturing overhead for the month was $612,300. 8. What direct labor cost would be included in the company's flexible budget for March? Direct labor cost
