The following data were drawn from the records of Munoz Corporation Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,300 units 2.90 pounds @ $1.89 per pound 3.30 hours @ $3.10 per hour $18,060 4,600 units 2.30 pounds @ $2.20 per pound 3.60 hours $2.80 per hour $13,760 Required a. Prepare a materials variance Information table showing the standard price, the actual price, the standard quantity, and the actual quantity b. Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). c. Prepare a labor variance Information table showing the standard price, the actual price, the standard hours, and the actual hours. d. Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). e. Calculate the predetermined overhead rate, assuming that Munoz uses the number of units as the allocation base. 1. Calculate the fixed cost spending variance Indicate whether the variance is favorable (F) or unfavorable (0) g. Calculate the fixed cost volume variance Indicate whether the variance is favorable () or unfavorable (U). Complete this question by entering your answers in the tabs below. Req A RegB Reg C Reg D Reg Eto G Prepare a materials variance information table showing the standard price, the actual orice, the standard quantity, and the actual quantity. (Round "Standard price" and "Actual price to 2 decimal places) Materials Variance Information Table Standard price Actual price per pound por pound Required a. Prepare a materials variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity. b. Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). c. Prepare a labor variance information table showing the standard price, the actual price, the standard hours, and the actual hours. d. Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). e. Calculate the predetermined overhead rate, assuming that Munoz uses the number of units as the allocation base. f. Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U). g. Calculate the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable (U). Complete this question by entering your answers in the tabs below. Req-A Reg B Reg C Reg D Reg E to G Prepare a materials variance Information table showing the standard price, the actual price, the standard quantity, and the actual quantity. (Round "Standard price" and "Actual price to 2 decimal places.) Materials Variance Information Table Standard price Actual price per pound per pound pounds Standard quantity for flexible budget Actual quantity used pounds Re> actual price, the standard ho ate the labor price and usage variances. Indicate whether the variances are favorable ( or unfaw e. Calculate the predetermined overhead rate, assuming that Munoz uses the number of units as the alloc f. Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable g. Calculate the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable Complete this question by entering your answers in the tabs below. Reg A Reji B Reg C Reg D Req E to G Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavora (Select "None" if there is no effect (.e., zero variance) Material price variance Material usage variance Prev 3 of 5 HE Next > hy Vallance. Indicate whether the variance is favorable (F) or unfavorable (U). g. Calculate the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable (U). base. Complete this question by entering your answers in the tabs below. 25 Reg A ReqB Rig C Req D Req E to G Prepare a labor variance Information table showing the standard price, the actual price, the standard hours, and the actual hours. (Round "Standard price" and "Actual price to 2 decimal places.) Labor Variance Information Table Standard price Actual price Standard hours for flexible budget per hour per hour Actual hours used Reg RegD the standard quantity, and the b. Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). c. Prepare a labor variance Information table showing the standard price, the actual price, the standard hours, and the actua d. Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). e. Calculate the predetermined overhead rate, assuming that Munoz uses the number of units as the allocation base. f. Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U). 9. Calculate the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable (U). ook ht Complete this question by entering your answers in the tabs below. ices Req A ReqB Reqc Reg Req E to G Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (.e., zero variance).) Labor price variance Labor usage variance