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: or 15 $ 45 Direct materials: 5 pounds at $9 per pound Direct labor: 3 hours at $14 per hour Variable overhead: 3 hours at 58 per hour Total standard cost per unit 24 $111 Book Print The planning budget for March was based on producing and selling 28,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs: Cerences a. Purchased 180,000 pounds of raw materials at a cost of $8.50 per pound, All of this material was used in production b. Direct laborers worked 69,000 hours at a rate of $15 per hour. c. Total variable manufacturing overhead for the month was $565,110. Required: 1. What raw materials cost would be included in the company's planning budget for March? Raw material cost 2. What raw materials cost would be included in the company's flexible budget for March? Raw material cost 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 (.e., zero variance.). Input all amounts as positive values.) Materials pro variance 5. If Preble had purchased 184,000 pounds of materials at $8.50 per pound and used 180,000 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 (.e., zero variance:). Input all amounts as positive values.) Materials pie varance 6. If Preble had purchased 184.000 pounds of materials at $8.50 per pound and used 180,000 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 (.e. zero variance.). Input all amounts as positive values.) Materials quantity variance 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 variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (le, zero variance.). Input all amounts as positive values.) Laborato variance nes 11. What is the labor spending 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.) Labor spending verlange 6. La Valldulehduidcturing overhead for the month was $565,110. 12. What variable manufacturing overhead cost would be included in the company's planning budget for March? Variable manutacturing overhead con 13. What variable manufacturing overhead cost would be included in the company's flexible budget for March? Variable manufacturing overhead cost 15. What is the variable overhead efficiency variance for March? (Round the actual overhead rate to two decimal places. 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.) Variable overhead efficiency variance
