The Foundational 15 (Algo) (LO9-1, LO9-2, LO9-4, LO9-5, LO9-6] [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 labor-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at $10.00 per pound Direct labori 3 hours at $17 per hour Variable overhead: 3 hours at $7 per hour 21.00 Total standard variable cost per unit $ 122.00 The company also established the following cost formulas for its selling expenses: $ 50.00 51.00 Variable Fixed cost Cost per per Month Unit Sold Advertising $ 330,000 Sales salaries and commissions $360,000 $ 25.00 Shipping expenses $ 16.00 The planning budget for March was based on producing and selling 24,000 units. However, during March the company actually produced and sold 30,600 units and incurred the following costs: a. Purchased 170,000 pounds of raw materials at a cost of $9.00 per pound. All of this material was used in production b. Direct-laborers worked 68,000 hours at a rate of $18.00 per hour. c. Total variable manufacturing overhead for the month was $512,040. d. Total advertising, sales salaries and commissions, and shipping expenses were $340,000, $520,000, and $245,000, respectively 1. What raw materials cost would be included in the company's flexible budget for March? Raw material cost for 2. What is the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, unfavorable, and "None" for no effect (.e., zero variance.). Input the amount as a positive value.) Materials quantity vonance 3. 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 (.e., zero variance.). Input the amount as a positive value.) Materats price variance 6. What direct labor cost would be included in the company's flexible budget for March? Direct labor cost 7. What is the direct labor efficiency 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 the amount as a positive value.) Direct labor efficiency variance 8. What is the direct labor rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance.). Input the amount as a positive value.) Direct labor rate variance 9. What variable manufacturing overhead cost would be included in the company's flexible budget for March? Variable manufacturing overhead cost 10. What is the variable overhead efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance.). Input the amount as a positive value.) Variable overhead officiency variance 11. What is the variable overhead rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance.). Input the amount as a positive value.) Variable overhead rate variance 12. What amounts of advertising, sales salaries and commissions, and shipping expenses would be included in the company's flexible budget for March? Advertising Sales salaries and commissions Shipping expenses 13. What is the spending variance related to advertising? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.) Spending variance related to advertising 14. What is the spending variance related to sales salaries and commissions? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance.). Input the amount as a positive value.) Spending variance related to sales salarios and commissione 15. What is the spending variance related to shipping expenses? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i... zero variance.). Input the amount as a positive value.) Spending vanance related to shipping expenses
