TIME SENSITIVE (6-8hrs)

*****THE FOLLOWING IS A REPEAT FROM THE PREVIOUS PAGE***** WizzleCe produces bicycles. The following standard cost sheet has been developed from historical data: Direct Materials Direct Labor Variable MOH Fixed MOH 12 kg 2 DLH 1 MHR 1 MHR a @ @ @ $ 3.00 per kg $12.00 per DLH $ 5.00 per MHR $20.00 per MHR Production was forecast to be 2,000 units, but only 1,950 were actually produced. 26,000 kg of materials were purchased for $76,700. A total of 23,000 kg of materials were used in production. Actual direct labor totaled 4,000 DLH, costing $46,000. Forecast variable overhead was $10,000, and forecast fixed overhead was $40,000. Actual variable overhead was $11,000. Actual fixed overhead was $38,000. Actual machine hours totaled 1,900 MHR. 21. Calculate the direct materials usage variance. ANSWER (5pts): 22. Calculate the direct materials price variance. ANSWER (5pts): 24. Calculate the direct labor efficiency variance ANSWER (5pts): 25. Calculate the fixed overhead budget variance. ANSWER (5pts): 26. Calculate the fixed overhead volume variance. ANSWER (5pts)