this is a multi-part question
Required information 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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour 48 Variable overhead: 3 hours at $4 12 per hour $ 95 Total standard cost per unit The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs: a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $340,090 3. What is the materials price variance for March? (Indicate the effect of each variance by selecting "Ffor favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) aterials price ariance Required information 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 materials:5 pounds at $7 per pound $ 35 Direct labor: 3 hours at $16 per hour 48 Variable overhead: 3 hours at $4 per hour Total standard cost per unit 12 $ 95 The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs: a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $340,090. . What is the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) Materials quantity variance Required information 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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour $35 48 Variable overhead: 3 hours at $4 per hour 12 $95 Total standard cost per unit The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour c. Total variable manufacturing overhead for the month was $340,090 5. If Preble had purchased 186,000 pounds of materials at $6.80 per pound and used 175,000 pounds in production, what would be 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 (i.e., zero variance.). Input all amounts as positive values.) aterials price variance Required information 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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour $35 48 Variable overhead: 3 hours at $4 12 per hour $95 Total standard cost per unit The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour c. Total variable manufacturing overhead for the month was $340,090 6. If Preble had purchased 186,000 pounds of materials at $6.80 per pound and used 175,000 pounds in production, what would be the materials quantity variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Materials quant ariance Required information 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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour Variable overhead: 3 hours at $4 per hour Total standard cost per unit 48 12 $ 95 The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs: Is at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $340,090. 7. What direct labor cost would be included in the company's planning budget for March? Direct labor cost Required information [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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour 48 Variable overhead: 3 hours at $4 12 per hou:r Total standard cost per unit $ 95 The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs: a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production. b. Direct laborers worked 71,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $340,090. 8. What direct labor cost would be included in the company's flexible budget for March? Direct labor cost Required information [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 materials: 5 pounds at $7 per pound $ 35 Direct labor: 3 hours at $16 per 48 nour Variable overhead: 3 hours at $4 12 per hour $95 Total standard cost per unit The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $340,090 9. What is the labor rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) bor rate variance Required information 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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour 48 Variable overhead: 3 hours at $4 per hour 12 $95 Total standard cost per unit The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour c. Total variable manufacturing overhead for the month was $340,090 10. What is the labor efficiency variance for March? (Indicate the effect of each variance by selecting "F"for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) or efficiency variance Required information 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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour 48 Variable overhead: 3 hours at $4 per hour 12 $95 Total standard cost per unit The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs: a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour c. Total variable manufacturing overhead for the month was $340,090 11. What is the labor spending variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) bor spending variance Required information 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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour $ 35 48 Variable overhead: 3 hours at $4 per hour Total standard cost per unit 12 $ 95 The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs: a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $340,090. 12. What variable manufacturing overhead cost would be included in the company's planning budget for March? riable manufacturing overhead cost Required information [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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour $ 35 48 Variable overhead: 3 hours at $4 12 per hour $ 95 Total standard cost per unit The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs: a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used irn production. b. Direct laborers worked 71,000 hours at a rate of $17 per hour. C. Total variable manufacturing overhead for the month was $340,090. 3. What variable manufacturing overhead cost would be included in the company's flexible budget for March? ariable manufacturing overhead cost Required information 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 materials: 5 pounds at $7 per pound Direct labor: 3 hours at $16 per hour 48 Variable overhead: 3 hours at $4 12 per hour $95 Total standard cost per unit The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $340,090 14. What is the variable overhead rate variance for March? (Round the actual overhead rate to two decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e. zero variance.). Input all amounts as positive values.) ariable overhead rate variance Required information [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 materials: 5 pounds at $7 per pound $ 35 Direct labor: 3 hours at $16 per hour 48 Variable overhead: 3 hours at $4 12 per hour $95 Total standard cost per unit The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,000 units and incurred the following costs a. Purchased 175,000 pounds of raw materials at a cost of $6.80 per pound. All of this material was used in production b. Direct laborers worked 71,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $340,090 15. What is the variable overhead efficiency variance for March? (Round the actual overhead rate to two decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.) Variable overhead efficienc variance
