i Data Table HeadSound manufactures headphone cases. During September 2016, the company produced and sold 108,000 cases and recorded the following cost data: (Click the icon to view the cost data.) Standard Cost Information Read the requirements. Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Direct Materials $ Quantity 2 parts 0.02 hours 0.02 hours Cost 0.16 per part 8.00 per hour 10.00 per hour Direct Labor Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is fa actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) Variable Manufacturing Overhead Formula Variance = Direct materials cost variance Direct labor cost variance Fixed Manufacturing Overhead ($29,400 for static budget volume of 98,000 units and 1,960 hours, or $15 per hour) Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direct materials and direct labor, and identify whether each cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) Actual Cost Information Formula Variance (212,000 parts@ (1,660 hours @ $ $ 0.21 per part) 8.10 per hour) Direct materials efficiency variance Direct labor efficiency variance Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. Now compute the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and id used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity; VOH = variable overhead.) Print Done Formula Variance VOH cost variance VOH efficiency variance = Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = MS QueSLIUII. 13 pls U UI IU (J LUMTI T5 Tesl. TUU pis possible Data Table HeadSound manufactures headphone cas E: (Click the icon to view the cost data.) i Requirements Standard Cost Information Read the requirements. 1. Requirement 1. Compute the cost and eff $ 2. Compute the cost and efficiency variances for direct materials and direct labor. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. HeadSound's management used better quality materials during September Discuss the trade-off between the two direct material variances. Quantity 2 parts 0.02 hours 0.02 hours Direct Materials Direct Labor Variable Manufacturing Overhead Cost 0.16 per part 8.00 per hour 10.00 per hour Begin with the cost variances. Select the r| actual quantity; FOH = fixed overhead; sa 3. = L Direct materials cost variance Direct labor cost variance Print Done Fixed Manufacturing Overhead ($29,400 for static budget volume of 98,000 units and 1,960 hours, or $15 per hour) Etual Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direct materials and direct labor cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) Formula Variance Actual Cost Information Direct Materials Direct Labor (212,000 parts @ (1,660 hours @ $ $ 0.21 per part) 8.10 per hour) Direct materials efficiency variance Direct labor efficiency variance $ 44,520 13,446 10,000 26,000 Variable Manufacturing Overhead Fixed Manufacturing Overhead Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost ations Now compute the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity; VOH = variable overhe Print Done Formula Variance VOH cost variance VOH efficiency variance = Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = HeadSound manufactures headphone cases. During September 2016, the company produced and sold 108,000 cases and recorded the following cost data: E: (Click the icon to view the cost data.) Read the requirements. Requirement 1. Compute the cost and efficiency variances for direct materials and direct labor. Begin with the cost variances. Select the required formulas, compute the cost variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) Formula Variance = Direct materials cost variance Direct labor cost variance Next compute the efficiency variances. Select the required formulas, compute the efficiency variances for direct materials and direct labor, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity.) Formula Variance = Direct materials efficiency variance Direct labor efficiency variance Requirement 2. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances Now compute the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviation used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity; VOH = variable overhead.) Formula Variance VOH cost variance VOH efficiency variance = Now compute the fixed overhead cost and volume variances. Select the required formulas, compute the fixed overhead cost and volume variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC