The company where Michael works produces skateboards locally but sells them globally for $$60$ each. Michael is one of the

production managers in a meeting to discuss preliminary results from the year just ended. Here is the information they had in front of

them:

Actual results:

Quantity of wood purchased, $135,500$ feet; quantity of wood used, $130,500$ feet.

$,$ Quantity of wheels purchased, $308,160$ wheels; quantity of wheels used, $291,160$ wheels.

$,$ Actual cost of the wood, $$3\mathrm{.}20$ per foot.

Actual cost of the wheels, $$0\mathrm{.}55$ per wheel.

Quantity of DL hours used, $18,560$ hours; actual cost of DL hours, $$15\mathrm{.}80$ per hour.

Actual units produced, $58,000$ skateboards.

$($a$)$

Complete a variance analysis for DM $($both wood and wheels$)$ and DL$,$ determining the price and efficiency variances for each; be

sure to specify the amount and sign of each variance.

Price Variance

DM$-$

Wood

DM$-$

Wheels

Efficiency Varianc$$

$

$

$