Topline Surf Boards manufactures a single product. The standard cost of one unit of this product is as follows: Direct materials: 6 feet at $1 per foot . . . . . . . . . . . . . . . . . . . . . . $ 6.00 Direct labor: 1 hour at $4.50 per hour . . . . . . . . . . . . . . . . . . . . . . . . 4.50 Variable manufacturing overhead: 1 hour at $3 per hour . . . . . . . . . . 3.00 Total standard variable cost per unit . . . . . . . . . . . . . . . . . . . . . . . $13.50 During October, 6,000 units were produced. Selected data relating to the months production follow: Material purchased: 60,000 feet at $0.95 per foot . . . . . . . . . . $57,000 Material used in production: 38,000 feet . . . . . . . . . . . . . . . . . Direct labor: ? hours at $ ? per hour . . . . . . . . . . . . . $27,950 Variable manufacturing overhead cost incurred . . . . . . . . . . . $20,475 Variable manufacturing overhead efficiency variance . . . . . . . $1,500 U There was no beginning inventory of raw materials. The variable manufacturing overhead rate is based on direct labor-hours.

Required:

1. For direct materials: a. Compute the price and quantity variances for October. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) b. Prepare journal entries to record activity for October.

2. For direct labour: a. Compute the rate and efficiency variances for October. (Indicate the effect variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) b. Prepare a journal entry to record labour activity for October.

3. For variable manufacturing overhead: a. Compute the spending variance for October, and verify the efficiency variance given above. (Indicate the effect variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) b. Not available in Connect.

4. For fixed manufacturing overhead: a. Compute the volume variance for October. (Indicate the effect variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) b. Compute actual costs for October.

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