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[ The following information applies to the questions displayed below. ] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based
The following information applies to the questions displayed below.
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct laborhours and its standard cost card per unit is as follows:
Direct materials: pounds at $ per pound $
Direct labor: hours at $ per hour
Variable overhead: hours at $ per hour
Total standard cost per unit $
The planning budget for March was based on producing and selling units. However, during March the company actually produced and sold units and incurred the following costs:
Purchased pounds of raw materials at a cost of $ per pound. All of this material was used in production.
Direct laborers worked hours at a rate of $ per hour.
Total variable manufacturing overhead for the month was $
What is the materials price variance for March? Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance. Input all amounts as positive values.
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