Total tixed expenses Net operating income (loss) 145.00 145, eae $15, de $ (2.490) *Contains direct materials, direct labor, and variable manufacturing overhead. Janet Dunn, who has just been appointed general manager of the Westwood Plant, has been given instructi control." Upon reviewing the plant's income statement. Ms. Dunn has concluded that the major problem lies goods sold. She has been provided with the following standard cost per swimming pool: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours B.e pounds 2.4 hours 9.3 hours Standard Price on Rate $ 2.50 per pound $ 2.10 per hour $ 2.5e per hour Standard Cost $ 7.50 2.84 ces $ 11.12 *Based on machine-hours. During June the plant produced 8.000 pools and incurred the following costs: a. Purchased 29.000 pounds of materials at a cost of $2.95 per pound. b. Used 23,800 pounds of materials in production (Finished goods and work in process inventories are insignif ignored. c. Worked 3,800 direct labor-hours at a cost of $6.80 per hour d. incurred variable manufacturing overhead cost totaling $8,100 for the month. A total of 2.700 machine-hours It is the company's policy to close all variances to cost of goods sold on a monthly basis. Required: 1. Compute the following variances for June a. Materials price and quantity variances b. Labor rate and efficiency variances. c. Variable overhead rate and efficiency variances 2 Summarize the variances that you computed in (1) above by showing the net overal favorable or unfavorable var Complete this question by entering your answers in the tabs below. Required 1 Required 2 la. Compute the following variances for June, materials price and quantity variances. ib. Compute the following variances for June, labor rate and efficiency variances. 1c. Compute the following variances for June, variable overhead rate and efficiency variances. (Do not round your intermediate calculations. Indicate the effect of each variance to selectag F for favorable y for unfavorable, and "None" for no effect (ie, zero variance). Input all amounts as positive values Show less 1a Vateral price vanance Material quantity variance 10. Latorrate variance Labor eficiency variance 1c Vanable overhead rate variance Variable overhead edency vanance 15 28 1996 164 e 16, eae 122.499 142,519 iable selling expenses vaniable expenses ibution margin 1 expenses hufacturing overhead ling and administrative fixed expenses Operating income (loss 6 NA 80 e 100g 15 e 65.de seede 145,000 (2,49e) $ dins direct materials, direct labor, and variable manufacturing overhead Dunn, who has just been appointed general manager of the Westwood Plant has been given instructions to "get things "Upon reviewing the plant's income statement. Ms. Dunn has concluded that the major problem lies in the variable cost sold. She has been provided with the following standard cost per swimming pool ect materials But labor iable manufacturing overhead al standard cost per unit Standard Quantity or Hours B. pounds 0.4 hours 9.3 hours Standard Price on Rate $ 2.50 per pound $7.le per hour $ 2.50 per hour Standard Cost 59 2 25 $ 11 12 ed on machine-hours ng June the plant produced 8.000 pools and incurred the following costs: urchased 29.000 pounds of materials at a cost of $2.95 per pound sed 23.800 pounds of materials in production. Finished goods and work in process inventories are insignificant and can be anored.) orked 3.800 direct labor-hours at a cost of $6.80 per hour curred variable manufacturing overhead cost totaling $8.100 for the monan A total of 2.700 machine-hours was recorded the company's policy to close all variances to cost of goods sold on a monthly basis. quired: ompute the following variances for June Materials price and quantity variances. Labor rate and efficiency variances ariable overhead rate and efficiency variances. Summarize the variances that you computed in (1) above by showing the net overall Tavorable or unfavorable variance for the month Complete this question by entering your answers in the tabs below. Required: Required 2 Summarize the variances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month. Indicate the effect of each wariance by selecting "F" for favorable. "U" for unfavorable and None for no effectie mero varience input the amount as positive value.)