Ross Dickens is a cost accountant and business analyst for Dashing Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Dickens feels that manufacturing overhead is most closely related to material usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used. Requirement 1. For the month of April, compute the variances, indicating whether each is favorable (F) or unfavorable (U). Before computing the variances complete the tables below. Begin by completing the table for direct materials. Actual Input Qty. x Budgeted Price Actual Costs Flexible Incurred Purchases Usage Budget Direct materials a. Direct materials price variance (based on purchases) is b. The direct materials efficiency variance is Now complete the table for direct labor. Actual Costs Actual Input Qty. x Flexible Incurred Budgeted Price Budget Direct Manuf. Labor c. The direct manufacturing labor price variance is d. The direct manufacturing labor efficiency variance is Next, complete the table for variable overhead. (Abbreviation used: Manuf = Manufacturing) Actual Costs Actual Input Qty. x Flexible Allocated Incurred Budgeted Price Budget Overhead Variable Manuf. OHRoss Dickens is a cost accountant and business analyst for Dashing Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Dickens feels that manufacturing overhead is most closely related to material usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used. Actual Costs Actual Input Qty. x Flexible Allocated Incurred Budgeted Price Budget Overhead Variable Manuf. OH e. The variable manufacturing overhead spending variance is f. The variable manufacturing overhead efficiency variance is Complete the table for fixed overhead. Same Budgeted Lump Actual Costs Sum Regardless Flexible Allocated Incurred of Output Level Budget Overhead Fixed Manuf. OH g. The production-volume variance is h. The fixed manufacturing overhead spending variance is Requirement 2. Can Dickens use any of the variances to help explain any of the other variances? Give examples. The direct materials price variance indicates that DDC paid V for brass than they had planned. If this is because they purchased a quality brass, it may explain why they used V brass than expected (leading to a(n) material efficiency variance). In turn, since variable manufacturing overhead is assigned based on pounds of materials used, this directly led to the variable overhead efficiency variance. The purchase of this quality of brass may also explain why it took labor time to produce the doorknobs than expected (the direct labor efficiency variance).Ross Dickens is a cost accountant and business analyst for Dashing Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Dickens feels that manufacturing overhead is most closely related to material usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used (Click the icon to view the standards.) EEE(Click the icon to view the actual results for April.) X Data table - X Data table At the beginning of 2020, DDC budgeted annual production of 400,000 doorknobs and adopted the following standards for each doorknob: Actual results for April 2020 were as follows: Input Cost/Doorknob Production 32,000 doorknobs ch is favorable (F) or unfavorable (U). Direct materials (brass) 0.3 lb. at $9/lb. $ 2.70 Direct materials purchased 13,000 lb. at $12/lb. ble for direct materials. Direct manufacturing labor 1.2 hours at $20/hour 24.00 Direct materials used 8,000 lbs. Variable manufacturing overhead $7/lb x 0.3 lb. 2.10 Direct manufacturing labor 28,900 hours for $606,900 Fixed manufacturing overhead $14/lb. x 0.3 lb. 4.20 Variable manufacturing overhead $65,200 $ 33.00 Standard cost per doorknob Fixed manufacturing overhead $ 159,000 - X Requirements Print Done Print Done 1. For the month of April, compute the following variances, indicating whether each is favorable (F) or unfavorable (U). Actual Costs Actual mput Gty Incurred Budgeted Pric a. Direct materials price variance (based on purchases) b. Direct materials efficiency variance Direct Manuf. Labor c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Variable manufacturing overhead spending variance c. The direct manufacturing labor price variance is F. Variable manufacturing overhead efficiency variance g. Production-volume variance d. The direct manufacturing labor efficiency variance is h. Fixed manufacturing overhead spending variance 2. Can Dickens use any of the variances to help explain any of the other Next, complete the table for variable overhead. (Abbreviation use variances? Give examples