The following data were drawn from the records of Zachary Corporation.

Planned volume for year (static budget)		3,200	units
Standard direct materials cost per unit		3.30	pounds	@		$1.90	per pound
Standard direct labor cost per unit		2.50	hours	@		$4.30	per hour
Total expected fixed overhead costs		$15,360
Actual volume for the year (flexible budget)		3,400	units
Actual direct materials cost per unit		3.00	pounds	@		$2.50	per pound
Actual direct labor cost per unit		2.70	hours	@		$3.80	per hour
Total actual fixed overhead costs		$11,160

Required

1. Prepare a materials variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity.
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2. Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U).
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3. Prepare a labor variance information table showing the standard price, the actual price, the standard hours, and the actual hours.
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4. Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U).
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5. Calculate the predetermined overhead rate, assuming that Zachary uses the number of units as the allocation base.
6. Calculate the fixed cost spending variance. Indicate whether the variance is favorable (F) or unfavorable (U).
7. Calculate the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable (U).
   1. 

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 pounds Standard quantity for flexible budget Actual quantity used Calculate the materials price and usage variances. Indicate whether the variances are favorable (F or unfavorable (U). (Select "None" if there is no effect (i.c.. zero variance).) Material price variance Material usage variance 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 budet Actual hours used per hour per hour Calculate the labor price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U). (Select 'None" if there is no effect (i.e.,,zero variance).) Labor price variance Labor usage variance Calculate the predetermined overhead rate, assuming that Zachary uses the number of units as the allocation base. Calculate the fixed cost spending variance and the fixed cost volume variance. Indicate whether the variance is favorable (F) or unfavorable (U). (Round "Predetermined overhead rate" answer to 2 decimal places. Select "None if there is no eftect ie., zero variance).) e. Predetermined overhead rate f. Fixed cost spending variance g. Fixed cost volume variance per unit