SoundSmart manufactures headphone cases. During September 2024, the company produced and sold 105,000 cases and recorded the following cost data (Click the icon to view the cost data) - Read the requireme Data Table Requirement 1. Cd Standard Cost Information Begin with the cost FOH = fixed overhe entify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; Direct materials ca Quantity Cost Direct Materials 2 parts $0.17 per part Direct Labor 0.02 hours 19.00 per hour Variable Manufacturing Overhead 0.02 hours 14 per hour Fixed Manufacturing Overhead ($28,500 for static budget volume of 95,000 units and 1,900 hours, or $15 per hour) Direct labor cost v t labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = Next compute the e actual quantity; FOH Actual Cost Information Direct Materials Direct materials ef (207,000 parts @ $0.22 per part) (1,600 hours @ $19.10 per hour) Direct Labor $ 45,540 30,560 15,000 Direct labor efficie Variable Manufacturing Overhead Fixed Manufacturing Overhead Requirement 2. Foll 25,000 cost and volume variances Now compute the v actual cost; AQ = a st and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = Print Done VOH cost variance VOH efficiency va Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual SoundSmart manufactures headphone cases. During September 2024, the company produced and sold 105,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) Formula Variance Direct materials cost variance Direct labor cost variance Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) Formula Variance Direct materials efficiency variance Direct labor efficiency variance Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Now compute the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity, VOH = variable overhead.) Formula Variance VOH cost variance VOH efficiency variance - Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual SoundSmart manufactures headphone cases. During September 2024, the company produced and sold 105,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Read the requirements. uuluui quunruly, I VI - HAVU Uvumuu, vv- JUTTUUIU Luur, volumulu Yuuru) Formula Variance Direct materials efficiency variance = Direct labor efficiency variance Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Now compute the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity; VOH = variable overhead.) Formula Variance VOH cost variance VOH efficiency variance Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity, FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) Formula Variance FOH cost variance FOH volume variance Requirement 3. SoundSmart's management used better quality materials during September. Discuss the trade-off between the two direct material variances. SoundSmart's management knew that using higher quality materials would result in a(n) They hoped these materials would result in more efficient usage than "standard" materials. The result was an overall