Required information The following Information applies to the questions displayed below. Preble Company manufactures one product. Its varlable manufacturing overhead Is applied to production based on dilrect labor-hours and lts standard cost card per unit Is as follows: Direct materials: 5 pounds at $8.88 per pound Direct labor: 2 hours at $14 per hour Variable overhead: 2 hours at $5 per hour Total standard cost per unit 5 48.00 28.08 10.80 $ 78.08 The planning budget for March was based on producing and selling 25,000 units. However, during March the company actually produced and sold 30,000 units and Incurred the following costs: a. Purchased 160.000 pounds of raw materlals at a cost of $7.50 per pound. All of this material was used In production. b. Direct laborers worked 55,000 hours at a rate of $15.00 per hour c. Total varlable manufacturing overhead for the month was $280.500. Required: 1. What raw materlals cost would be Included In the company's planning budget for March? 3. What is the materials price varlance for March? (Indicate the effect of each varlance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (e., zero varlance.). Input all amounts as positive values.) Materials price variance 4. What Is the materials quantity varlance for March? (Indicate the effect of each varlance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (l.e., zero varlance.). Input all amounts as positive values.) als 5. If Preble had purchased 170.000 pounds of materlals at $7.50 per pound and used 160,000 pounds In production, what would be the materiais price varlance for March? (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (e, zero varlance.). Input all amounts as positive values.) Materials price varianoe 6lf Preble had purchased 170,000 pounds of materials at $750 per pound and used 160,000 pounds in production, what would be the materials quantity varlance for March? (Indicate the effect of each varlance by selecting "F" for favorable. "U" for unfavorable and "None" for no effect (l.e. zero variance.). Input all amounts as positive values.) Materials quantity variance 7. What direct labor cost would be Included In the company's planning budget for March? Direct labor cost 8. What direct labor cost would be included in the company's flexible budget for March? Direct labor cost 9. What is the labor rate varlance for March? (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable. and "None" for no effect (l.e., zero varlance.). Input all amounts as positive values.) rate 10. What Is the labor efficiency varlance for March? (Indicate the effect of each varlance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (l.e. zero variance.). Input all amounts as posltive values.) Labor eficiency variane 11. What Is the labor spending varlance for March? (Indicate the effect of each varlance by selecting"F" for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero varlance.). Input all amounts as positive values.) pending variance 12 What varlable manufacturing overhead cost would be Included Iin the company's planning budget for March? ariable manufacturing overhead cost 13. What variable manufacturing overhead cost would be included in the company's flexible budget for March? ariable manufacturing overhead cost 14. What is the variable overhead rate varlance for March? (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (l.e. zero varlance.). Input all amounts as positive values.) Variable overhead rate variance 15. What Is the varlable overhead efficlency varlance for March? (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (L.e., zero variance.). Input all amounts as posltive values. Do not round Intermediate calculations.)