Samuel Jones is a cost accountant and business analyst for Daily Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Jones 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.) (Click the icon to view the actual results for April.) Data table Data table At the beginning of 2020, DDC budgeted annual production of 450,000 doorknobs and adopted the following standards for each doorknob: Actual results for April 2020 were as follows: Production Direct materials (brass) Direct manufacturing labor Input 0.3 lb. at $9/lb. Cost/Doorknob Direct materials purchased 2.70 Direct materials used 1.2 hours at $15/hour 18.00 Direct manufacturing labor Variable manufacturing overhead $6/lb x 0.3 lb. 1.80 Variable manufacturing overhead 4.20 Fixed manufacturing overhead Standard cost per doorknob $14/lb. x 0.3 lb. Fixed manufacturing overhead $ 26.70 Print Done Help me solve this Etext pages Get more help Pri 30,000 doorknobs 12,100 lb. at $12/lb. 8,600 lbs. 29,400 hours for $705,600 $64,900 $159,000 Requirements - 1. For the month of April, compute the following variances, indicating whether each is favorable (F) or unfavorable (U). a. Direct materials price variance (based on purchases) b. Direct materials efficiency variance c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Variable manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. Production-volume variance h. Fixed manufacturing overhead spending variance 2. Can Jones use any of the variances to help explain any of the other variances? Give examples. - 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. * Budgeted Price Direct materials Actual Costs Incurred Purchases Usage Flexible Budget