Saab Scientific manufactures GPS devices for a chain of retail stores Click the icon to view information about the Magellan XS) The budgeted and actual amounts for Magellan XS for July 2020 were as follows: Click the icon to view the budgeted and actual amounts) Click the icon to view additional information) Read the requirements Requirement 1. Compute the price and efficiency variances for the three categories of direct materials and for direct manufacturing labor in July 2020 Begin by calculating the the price and efficiency variances for the each category of direct materials. (Do not round intermediary calculations. Round the amount you enter into the input field to the nearest whole dollar Label each variance as favorable (F) or unfavorable (U). For variances with a so balance, make sure to enter "o" in the appropriate field. If the variance is zero, do not select a label Abbreviation used: Qty - quantity) Actual Price Actual Input aty Efficiency Flexible Costs incurred Variance Budgeted Price Variance Budget July 2020 Navigation systems Polarizod glass Plastic casing Calculate the the price and efficiency variances for the direct labor. (Do not round intermediary calculations. Round the amount you enter into the input field to the nearest whole dollar. Label each variance as favorable (F) or unfavorable (U) For variances with a so balance, make sure to enter *O* in the appropriato field. If the variance is zero, do not select a label.) Actual Costs incurred Price Variance Actual Input Qty * Budgeted Price Efficiency Variance Flexible Budget July 2020 Direct labor . X More Info Its most popular model, the Magellan XS, is assembled in a dedicated facility in Savannah, Georgia. Saab is keenly aware of the competitive threat from smartphones that use Google Maps and has put in a standard cost system to manage production costs of the Magellan XS. It has also implemented a just-in-time system so the Savannah facility operates with no inventory of any kind. Producing the Magellan XS involves combining a navigation system (imported from Saab's plant in Dresden at a fixed price), an LCD screen made of polarized glass, and a casing developed from specialty plastic. Data Table ri ons pb Budgeted Amounts Actual Amounts 4,400 4,700 121,000 $ 123,500 4,840 4,940 25,312 26,400 $ Magellan XS units produced Navigation systems cost Navigation systems Polarized glass cost Sheets of polarized glass used Plastic casing cost Ounces of specialty plastic used Direct manufacturing labor costs Direct manufacturing labor-hours 440 452 36,256 $ 37,144 4,762 4,532 83,160 $ $ 85,172 3,960 3,980 hr in 10" lab More Info llati a $ The controller of the Savannah plant, Mike Walker, is disappointed with the standard costing system in place. The standards were developed on the basis of a study done by an outside consultant at the start of the year. Walker points out that he has rarely seen a significant unfavorable variance under this system. He observes that even at the present level of output, workers seem to have a substantial amount of idle time. Moreover, he is concerned that the production supervisor, Jason Kabat, is aware of the issue but is unwilling to tighten the standards because the current lenient benchmarks make his performance look good. ente