Standard overhead cost data is as follows: SQ SP Per Unit Variable Overhead 4 Direct Labor Hours $3.90 per labor hour $15.60 Fixed Overhead 4 Direct Labor Hours $2.40 per labor hour $9.60 The following information was taken from the annual Manufacturing Overhead Cost budget: Variable manufacturing overhead costs $90,090 Fixed manufacturing overhead costs $55,440 Normal production level in units 5,775 Actual data for the year is as follows: 5,600 units were produced 18,340 labor hours were worked. The Overhead Volume variance is $15,834 U $1,680 U $0 $6,160 U Dolce Co. estimates its sales as follows: Quarter 1 2 3 4 Unit Sales 200,000 220,000 240,000 260,000 Total Sales $6,000,000 $6,600,000 $7,440,000 $8,060,000 All of Dolce's sales are credit sales for which 60% is received within the quarter the sale is made. The remainder is received the quarter following sale. Dolce's expected CASH collections from credit sales in the third quarter are $6,936,000 $7,104,000 $6,360,000 $7,440,000 The production budget Is the starting point in preparing the master budget. Calculates the materials needed to provide for production and ending materials requirements. Is prepared after the Direct Labor Budget. Calculates the units needed to provide for sales and ending finished goods requirements. Selected data from Sudler's Materials Budget is presented below: Units to be produced Pounds Required for production Pounds to Purchase Cost Per Lb. 600 30,600 28,200 $0.50 Which of the following statements is true? The total cost of the materials to be purchased is $14,100 and 47 pounds are required to produce a unit. The total cost of the materials to be purchased is $14,100 and 51 pounds are required to produce a unit. The total cost of the materials to be purchased is $15,300 and 47 pounds are required to produce a unit. The total cost of the materials to be purchased is $15,300 and 51 pounds are required to produce a unit. Standard overhead cost data is as follows: SQ SP Per Unit Variable Overhead $15.60 4 Direct Labor Hours $3.90 per labor hour The following additional information is provided: Actual Variable Overhead $72,300 Actual Labor Hours Worked 18,340 Actual Units Produced 5,600 The Variable Overhead Spending Variance is $15,060 U $15,834 U $1,.680 U $774 U