The Bilodeau Manufacturing Company's costing system has two direct-cost categories direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor-hours (DLH). At the beginning of 2017, Bilodeau adopted the following standards for its manufacturing costs. (Click to view the standards.) (Click to view additional information.) Read the requirements. Requirement 1. Prepare a schedule of total standard manufacturing costs for the 8,400 output units in January 20 Direct materials $ 235,200 Direct manufacturing labor 655,200 Variable manufacturing overhead 403,200 352,800 Fixed manufacturing overhead $ 1,646,400 Total Requirement 2. For the month of January 2017, compute the variances, indicating whether each is favorable (F) Before computing the variances complete the tables below. Begin by completing the table for direct materials. Direct materials Actual Input Quantity x Budgeted Price Actual Costs Incurred 254100 Purchases Usage Flexible Budget 261360 7260 Data table Direct materials Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Standard manufacturing cost per output unit Input Cost per Output Unit 4 lb. at $7 per lb. $ 28.00 6 hrs. at $13 per hr. 78.00 $8 per DLH 48.00 42.00 $7 per DLH $ 196.00 - Data table The denominator level for total manufacturing overhead per month in 2017 is 40,000 direct manufacturing labor-hours. Bilodeau's budget for January 2017 was based on this denominator level. The records for January indicated the following: Direct materials purchased Direct materials used Direct manufacturing labor Total actual manufacturing overhead (variable and fixed) Actual production 36,300 lb. at $7.20 per lb. 33,300 lb. 50,900 hrs. at $12.75 per hr. $650,000 8,400 output units Requirements 1. Prepare a schedule of total standard manufacturing costs for the 8,400 output units in January 2017. 2. For the month of January 2017, 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. Total manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. Production-volume variance Print Done