Samson Clothing menulectures embroidered jackets. The company uses a standard cost system to control manufacturing costs. The following data represent the standard unit cost of jacket (Click the icon to view the cost data) Read the requirements Data Table as postitas Enter Sants to the scent and your answer the whole dotat Labem Regu IF Begi ras Requirements Now nas 1. Compute the price and quantly varies for direct materials 2. Compute the cute and efficiency variances for direct labor 3. Compute the role and officiency variances for variable overhead, 4. Compute the fed overhead budget variance and the fed overhead volume variance 5. Company management intentionally purchased superior materials for November production How did this decision affect the other cost variances? Overall was the decision wise? Explain. 6. Joumalize the usage of direct materials and the assignment of direct labor including the related venance bostive Har Label they Direct materials (3.0 9.54.15 pers.) $ 12.45 Direct labor (2.0 hours $9.70 per hour 19.40 Minutacturing overhead: Variatie 2.0 hours 5063 per hour) $ 1.35 4:40 Fixed (2.0 hours 52.20 per hour) 5.70 Total standard cost per $ 37.61 Fixed overhead in total was budgeted to be $62.400 for each month Actual data for November of the current year include the following: .. Actual production was 14,000 jackets b. Actual direct materials used was 260 quare feet per jacket ataculos of $4.30 per square foot (Assume the direct materiale purchased is the same as the direct mais) c. Actual direct labor usage of 25,800 hours for a cost of 5252.940 d. Actual fred overhead cost was $57.500, while actual variable overhead cost was 518,050 Real OU Dole Print Done Dulu OL efficiency variance Samson Clothing manufactures embroidered Jackets. The company uses a standard cont system to control manufacturing costs. The following data represent the standard unit cost of a joke Click the icon to view the cost data) Read the requirements Requirement 1. Compute the price and quantity variances for direct materials. (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and your wwers to resto IF) or unfavorable (U). Abbreviations used: UM Direct mate) Begn by determining the formula for the price variance, the compute the price variance for direct materials - DM price variance Now determine the formula for the quantity variance and compute the quantity wariance for direct material My Vance Requirement 2. Compute the rate and am ciency variances for direct labor. (Enter the variances en positive number the currency amounts to the tereoton on your own tweede or unfavorable (U). Above GDL Direct labor) Determine the formula for the ratovariance, the computerile variance for direct lobor OLrt van Determine the formula for the officiency variance, the compute the efficiency variance for direct labor Olen van Samson Clothing manufactures embroidered jackets. The company uses a standard cost system to control manufacturing costs. The following data represent the standard unit cost of a jacket Click the loon to view the cost data) Read the requirements Determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. OL officiency variance Requirement 3. Compute the rate and efficiency variances for variable overhead. (Enter the variances as positive numbers, Enter currency amount to the nortcent and your answers to the nearest whole dotaru favorable (F) or unfavorablo (UB) Determine the formula for the rate variance, then compute the variable manufacturing overhead rate variance Variable overhead rate variance ( Determine the formula for the efficiency variance, then compute the variable overhead efficiency variance Variable overhead officiency variance Requirement Compute the feed overhead budget variance and the fred overhead volume variance (Ele the variances as poto numbers Label the varios as favorable For unfavorabis (U). Atreviation Manufacturing overad Determine the formula for the foed overhead budget variance, the compute the budget variance for fixed overhead Fred MOH Samen Clothing manufacture embroidered Jackets. The company uses standard cont system to control man tacturing cont. The following data represent the standard unt coat of a jucat. Click the boon to view the cost data) Road the requirements Manufacturing overtad Determine the formula for the fired overhead budget variance, the compute the budget variance for fred overhead F MOH budgetarianos Bermine the formula for the feed overhead volume variance, the compute the volume variance for fred overhead Fund MOH Volume varice The favorable Requirements Company management intentionally purchased superior materials for November production. How did this decision the cout variance? Overall, was the decisioni? Explain variances more than offset the stvorable variances of the superior mataran purchased for the November personerse material and utor usage, the managements decision was Requirement Jourmaline the age of corect materials and the assignment of direct labor, including the road ranet (Pocons dubits fest, tren croche. Ensude explanations ton we journals First pumatzea purchase of direct madera, including the related variance Journal Entry Accounts Dobit Cot Samson Clothing manufactures embroidered jackets. The companys a standard cost system to control manufacturing costs. The following data represent the standard unt cost of a jacket: m Click the icon to view the cost data) Read the requirements Requirement 6. Journalize the usage of direct materials and the assignment of direct labor, including the related variance. Record debits first, then crodh. Brud explanations from any journal arties) First, journalize the purchase of direct materials, including the related variance Journal Entry Accounts Debit Credit Joumalize the usage of direct materials including the related variance Journal Entry Accounts Dobit Credit Joe the direct labor costs, Wouding the related variances. Record both direct labor variances by preparing a single compound artry. Journal Entry Samson Clothing manufactures embroidered jackets. The company uses a standard cost system to control manufacturing costs. The following data represent the standard unit cont of a packet Click the loon to view the cost data) Read the regulaments Joumalize the usage of direct materials, including the related variance Journal Entry Accounts Debit Credit Joure the direct labor costa, voluding the related artwoord both direct later verline by paring and compound entry) Journal Entry Accounts Debit Credit Date