This Test: 100 p Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: Click the icon to view the standards.) Actual cost and operating data from the most recent month are as follows: (Click the loon to view the actual results.) All manufacturing overhead is allocated on the basis of direct labor hours. Read the requirements Standard cost per unit Standard cost Direct materials Direct labor Variable MOH Fixed MOH Total standard cost Requirement 2a. Calculate the direct material variances. (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and your answers to the nearest Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air i Standard Price and Volume a Standards: s Direct materials 20.0 yards per awning at $16.00 per yard Direct labor 3.0 hours per awning at $18.00 per hour Variable MOH standard rate $5.00 per direct labor hour Predetermined fixed MOH standard rate $8.00 per direct labor hour Total budgeted fixed MOH cost $48,400 Print Done ct material variances. (Enter the variances as positive numbers. Enter currency amounts to th ung data tron Actual Results Purchased 44,730 yards at a total cost of $702,261 Used 41,300 yards in producing 2,100 awnings Actual direct labor cost of $111,677 for a total of 6,170 hours Actual variable MOH $32,084 Actual fixed MOH $53,900 Print Done fields and then continue to the next question. Requirements 1. Calculate the standard cost of one awning. 2. Calculate the following variances: a. The direct material variances. b. The direct labor variances. c. The variable manufacturing overhead variances. d. The fixed manufacturing overhead variances. 3. Explain what each of the variances you calculated means and give at least one possible explanation for each of those variances. Are any of the variances likely to be interrelated? Print Done question: 14 pts 27 of 29 (24 complete) Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) Actual cost and operating data from the m 2 (Click the icon to view the actual resul All manufacturing overhead is allocated or Read the requirements Requirement 2a. Calculate the direct material variances (Enter the variances as positive numbers. Enter currency amounts to the nearest Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials.) First determine the formula for the price variance, then compute the price variance for direct materials. DM price variance X X Determine the formula for the quantity variance, then compute the quantity variance for direct materials. 7x DM quantity variance Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air 999 18 question: 14 pts 27 of 29 (24 complete) Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) Actual cost and operating data from the m 2 (Click the icon to view the actual resul All manufacturing overhead is allocated or Read the requirements Requirement 2a. Calculate the direct material variances (Enter the variances as positive numbers. Enter currency amounts to the nearest Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials.) First determine the formula for the price variance, then compute the price variance for direct materials. DM price variance X X Determine the formula for the quantity variance, then compute the quantity variance for direct materials. 7x DM quantity variance Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air 999 18 are the company's cost and standards data: Click the icon to view the actua (Click the icon to view the standards.) All manufacturing overhead is alloca Read the requirements x Requirement 2b. Calculate the direct labor variances. (Enter the variances as positive numbers. Enter currency amounts to the neare Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL = Direct labor.) First determine the formula for the rate variance, then compute the rate variance for direct labor. x DL rate variance - First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air 80 F3 DOO 000 04 F7 F5 F6 $ % 5. & 7 6. 8 9 Pender Awning manufactures awnings and uses a standard cost system. The company Actual cost and operating data from the mom allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the actual results (Click the icon to view the standards.) All manufacturing overhead is allocated on Read the requirements First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. DL efficiency variance x Requirement 2c. Calculate the variable manufacturing overhead variances (Enter the variances as positive numbers. Enter currency amounta nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).) First determine the formula for the rate variance, then compute the rate variance for variable manufacturing overhead. (Round interim calculatie Variable overhead Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air ODD 80 FS F7 $ % & 8 9 Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) Actual cost and operating data from the (Click the icon to view the actual resu All manufacturing overhead is allocated Read the requirements Requirement 2d. Calculate the fixed manufacturing overhead variances. (Enter the variance as a positive number. Label the variance as Begin by computing the fixed manufacturing overhead budget variance. First determine the formula for the budget variance, then compute overhead. Fixed MOH = budget variance = Now compute the fixed manufacturing overhead volume variance. First determine the formula for the volume variance, then compute the vo Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air 80 ODO OOO 17 FS F6 27 of 29 (24 complete) Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: Click the icon to view the standards.) Actual cost and operating data from the most re (Click the icon to view the actual results.) All manufacturing overhead is allocated on the b Read the requirements Meaning Possible explanation Variance DM price DM quantity Direct Labor: Variance Meaning Possible explanation DL rate Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air 80 COD GOO F4 77 FS Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) Actual cost and operating data from the most re (Click the icon to view the actual results.) All manufacturing overhead is allocated on the te Read the requirements Variable manufacturing overhead: Variance Meaning VOH rate Possible explanation VOH efficiency Fixed manufacturing overhead: Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air Dll ODO 80 FS F6 F4 77 % & 7 Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) Actual cost and operating data from the (Click the icon to view the actual re All manufacturing overhead is allocated Read the requirements. Variance Meaning Possible explanation FOH budget FOH volume Are any of the variances likely to be interrelated? The variance is likely to be related to the variance. It is likely that Pender Awning Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air DI OOO 80 F3 FS 17 & This Test: 100 pts poss Pender Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) Actual copt and operating data from the most recent month are as follows: Click the icon to view the actual results) All manufacturing overhead is allocated on the basis of direct labor hours. Read the requirements FOH budget FOH volume Are any of the variances likely to be interrelated? The variance is likely to be related to the variance. It is likely that Pender Awning This may have resulted in Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air 80 1: % 5 & 7 8 9 6 3 4 Y T E R. es a standard cost system. The company rect lab] 0 Actual Results Actual cost and operating data from the most ults.) X n the Purchased 44,730 yards at a total cost of $702,261 Used 41,300 yards in producing 2,100 awnings Actual direct labor cost of $111,677 for a total of 6,170 hours Actual variable MOH $32,084 Actual fixed MOH $53,900 elated? is likely to be Print Done nber in the input fields and then continue to the next question. MacBook Air DII F5 F6 F7 F8 F9 & - 6 7 8 9 o pst recent tid * Standard Price and Volume the basis Standards: Direct materials 20.0 yards per awning at $16.00 per yard Direct labor 3.0 hours per awning at $18.00 per hour Variable MOH standard rate $5.00 per direct labor hour Predetermined fixed MOH standard rate $8.00 per direct labor hour Total budgeted fixed MOH cost $48,400 ed? kely to Print Done in the MacBook Air DII F5 F6 F7 F8 F9 FO & * o ra 6 7