Wheeler Corporation produces and sells special eyeglass straps for sporting enthusiasts. For the year, the company budgeted for production and sales of 1,200 straps. However, the company produced and sold just 1,100 straps. Each strap has a standard requiring one foot of material at a budgeted cost of $1.50 per foot and two hours of assembly time at a cost of $12 per hour. Actual costs for the production of 1,100 items were $1,435.50 for materials (990 feet at $1.45 per foot) and $29,161 for labor (2,420 hours at $12.05 per hour). Required: Enter all amounts as positive numbers. A. Calculate the direct labor rate variance. $ B. Calculate the direct labor efficiency variance. $

Fort Worth Company is a printer and binder of specialized booklets and pamphlets. Last year, the company's sales manager estimated sales to be 10,000 booklets and pamphlets combined. The sales manager also estimated that the items would retail for approximately $10 each. Various production costs, including direct and indirect material, direct and indirect labor, and variable overhead, were estimated to total $50,000, while fixed costs were estimated to be $20,000.

During the year, Fort Worth's unit sales equaled its production of 12,000 units. Because of changing market conditionsspecifically, competitionthe average selling price fell to just $9.50 per unit. There were increased variable costs as well that resulted in average per-unit variable costs of $6. At the end of the year, the company's controller accumulated fixed costs and found them to be $21,000.

Required:

If required, round your answers to two decimal places. Enter all amounts as positive numbers.

Prepare a report to show the difference between the actual contribution margin and the budgeted contribution margin per the static budget.

Fort Worth Company
	Static Budget		Difference				Actual Results
Units sold & produced
Sales price per unit	$						$
Sales revenue	$			$

		$
Less: variable costs

Contribution margin	$			$

$

Then, compare the actual contribution margin and the budgeted contribution margin per the flexible budget.

Fort Worth Company
	Flexible Budget		Flexible Budget Variance				Actual Results
Units sold
Sales price	$						$
Sales revenue	$			$

		$
Less: variable costs

Contribution margin	$			$

$