Requirements 1. Calculate the standard cost of one batch. 2. Calculate the following variances: a. The direct material variances. b. The direct labor variances. c. The variable manufacturing overhead variances. d. The fixed manufacturing overhead variances. 3. Have the company's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why or why not? 4. Describe how the company's managers can benefit from the standard costing system. Do you think the company should continue with the standard cost system? Data table Data table Standards: Direct material 60 pounds per batch at $5.00 per pound Purchased 3,250 pounds at a cost of $4.60 per pound Direct labor 3.0 hours per batch at $13.00 per hour Used 3,200 pounds in producing 50 batches Variable MOH standard rate $3.00 per direct labor hour Actual direct labor cost of $2,448 at an average direct labor cost per hour of $13.60 Predetermined fixed MOH standard rate $5.00 per direct labor hour Actual variable MOH$576 Total budgeted fixed MOH cost $1,150 Actual fixed MOH$1,350 Requirements 1. Calculate the standard cost of one batch. 2. Calculate the following variances: a. The direct material variances. b. The direct labor variances. c. The variable manufacturing overhead variances. d. The fixed manufacturing overhead variances. 3. Have the company's managers done a good job or a poor job controlling materials, labor, and overhead costs? Why or why not? 4. Describe how the company's managers can benefit from the standard costing system. Do you think the company should continue with the standard cost system? Data table Data table Standards: Direct material 60 pounds per batch at $5.00 per pound Purchased 3,250 pounds at a cost of $4.60 per pound Direct labor 3.0 hours per batch at $13.00 per hour Used 3,200 pounds in producing 50 batches Variable MOH standard rate $3.00 per direct labor hour Actual direct labor cost of $2,448 at an average direct labor cost per hour of $13.60 Predetermined fixed MOH standard rate $5.00 per direct labor hour Actual variable MOH$576 Total budgeted fixed MOH cost $1,150 Actual fixed MOH$1,350