The following standard costing data per unit, are for Black Lid. for January Direct materials Director Variable overhead Med verhead Go Wogans at $8.3 Waru hours 34.5 hour hours at $11.3 per hour 541 For January, Black Texible budget volume of output was 1340 units, Budgeted planned output was 1170 units. Direct materials purchased and used were 66300 klograrns at a total cost of $568.460. Direct labour used was 11.490 hours at $337 per hour Variable overhead cost was $117.720. Actual fred overhead cost was $75.810. Faed overhead cost is applied using direct labour hours. The normal volume is the same as the planned volume for January Required: 1. Prepare the static and flexible budgets and show the variances by completing the table given below. (Round Direct material price and Direct labour rate" answers to 2 decimal places) 3 Ipero One materie Direct marquant Dreabourne Direct labore Verwarding Variation word 1 DOH ILIT Ah Dud and whe 2. Calculate the direct labour flexible budget variances Indicate the effect of each variance by selecting *** for favorable, "U" for unfavorable, and "None for no effecte, rere variance Levante Ubury 2. Calculate the direct materials variances (Do not reund intermediate clcutations, indicate the effect of each verance by selecting ** for favorable, "U" for unfavorable, and "None for ne effect tre variances Mala Murray 4. Compute the variable overhead variances. (indicate the effect of each verlance by selecting for favorable, "U" for unfavorable, and "None" for no effecte, zero variance) Spending variance Efficiency variance Total variable overhead variance 5. Compute the fixed overhead variances (Do not round Intermediate calculation indicate the effect of each variance by selecting "Ffor favorable, "U" for unfavorable, and "None for no effect zero variance) Fedova budget variance Fedoverhead volume de Yotale overheid variance The following standard costing data per unit, are for Black Lid. for January Direct materials Director Variable overhead Med verhead Go Wogans at $8.3 Waru hours 34.5 hour hours at $11.3 per hour 541 For January, Black Texible budget volume of output was 1340 units, Budgeted planned output was 1170 units. Direct materials purchased and used were 66300 klograrns at a total cost of $568.460. Direct labour used was 11.490 hours at $337 per hour Variable overhead cost was $117.720. Actual fred overhead cost was $75.810. Faed overhead cost is applied using direct labour hours. The normal volume is the same as the planned volume for January Required: 1. Prepare the static and flexible budgets and show the variances by completing the table given below. (Round Direct material price and Direct labour rate" answers to 2 decimal places) 3 Ipero One materie Direct marquant Dreabourne Direct labore Verwarding Variation word 1 DOH ILIT Ah Dud and whe 2. Calculate the direct labour flexible budget variances Indicate the effect of each variance by selecting *** for favorable, "U" for unfavorable, and "None for no effecte, rere variance Levante Ubury 2. Calculate the direct materials variances (Do not reund intermediate clcutations, indicate the effect of each verance by selecting ** for favorable, "U" for unfavorable, and "None for ne effect tre variances Mala Murray 4. Compute the variable overhead variances. (indicate the effect of each verlance by selecting for favorable, "U" for unfavorable, and "None" for no effecte, zero variance) Spending variance Efficiency variance Total variable overhead variance 5. Compute the fixed overhead variances (Do not round Intermediate calculation indicate the effect of each variance by selecting "Ffor favorable, "U" for unfavorable, and "None for no effect zero variance) Fedova budget variance Fedoverhead volume de Yotale overheid variance
