Thomas Garden Supplies makes ground covers to prevent weed growth During May, the company produced and sold 43,900 rolls and recorded the following cost data: (Click the icon to view the cost data.) Requirements Requirement 1. Compute the price and efficiency variances for direct materials and direct labour Begin by determining the formula for the price variance, then compute the price variances for direct materials (DM) and direct labour (DL). (Enter the results as positive numbers. Label each variance as favourable (F) or unfavourable (U).) ( Actual price per input unit Standard price per input unit ) Actual quantity of input Price variance DM 1.05 1.10 ) x F (s ($ 136,100 4.590 = $ 6,805 $ 1,377 DL 6.70 700 x F Next, determine the formula for the efficiency variance, then compute the efficiency variances for direct matatals (DM) and direct labour (DL) (Enter the results as positive numbers. Label each variance as favourable (F) or unfavourable (U).) Actual quantity of input Standard quantity of input ) Standard price per input unit = Efficiency variance DM ( ) X DL ) Clear all Check answer Help me solve this Video Get more help To 11C Clear ^00 ENG 1425 26-11-2021 O Type here to search 126/21275M = Homework: Chapter 10 Question 3, P10-70A (S... HW Score: 73.7%, 2.21 of 3 points Save Data table X Thomas Garden Supplies makes ground covers to prevent weed growth (Click the icon to view the cost data.) Rolairements Standard Actual Unit Cost Total Cost Direct materials Requirement 1. Compute the price and efficiency variances for direct ma Begin by determining the formula for the price variance then compute the $ 330 el each variance as favourable (F) or unfavourable (U).) Actual price per input unit Standard price per input unit Standard (3 kg x $1 10 per kg) Actual (136 100 kg x $1.05 per kg) Direct labour $ 142,905 DM ($ 1.05 1.10 DL S 6.70 700 Standard (0.1 hr x $7.00 per hr) 0.70 30,753 Next, determine the formula for the efficiency variance, then compute the Label each variance as favourable (F) or unfavourable (U).) Actual quantity of input Standard quantity of input Actual (4,590 hr x $6.70 per hr) Manufacturing overhead: Standard Variable (0.2 machine hrx $9.00 per hr) Fixed ($96,000 for static budget volume DM ( $ 180 DL 2.41 of 39.900 units and 7 980 machine hours) 4.21 168,500 Actual 8.21 $ 342, 158 Total manufacturing costs Print Done Clear all Check answer Help me solve this Video Get more help 11C Clear ^ ( ENG 14:25 26-11-2021 1 o Type here to search o lollowing cost dala Requirements ament 1. Compute the price and efficiency variances for direct mater determining the formula for the price variance, then compute the Actual price per input unit Requirements Standard price per input unit el each variance as favourable (F) or unfavourable (u):) 1 05 1.10 $ 6.70 700 termine the formula for the efficiency variance, then compute the e 1. Compute the price and efficiency variances for direct materials and direct labour 2. For manufacturing overhead, compute the total variance, the flexible budget variance, and the production volume variance 3. Prepare a standard cost income statement through gross profit to report all variances to management Sales price was $10.50 per roll 4. Thomas Garden Supplies intentionally purchased cheaper matenals during May Was the decision wise? Discuss the trade-off between the two materials variances Label each variance as favourable (F) or unfavourable (U).) Actual quantity of input Standard quantity of input Print Done Video me solve this Get more help Clear all Check answer 11C Clear o ^ ENG Type here to search 1425 26-11-2021