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The Conti Company uses a flexible budget and standard costs to aid planning and control of its machining manufacturing operations. Its costing system for manufacturing has two direct-cost categories (direct materials and direct manufacturing laborboth variable) and two overhead-cost categories (variable manufacturing overhead and fixed manufacturing overhead, both allocated using direct manufacturing labor-hours). The following actual results are for August:

Requirement 1. Compute the listed amounts for August. Determine the formula, then complete the computation for each. (Abbreviations used: DM= Direct materials, mfg.= manufacturing, OH=Overhead.) a. Total pounds of direct materials purchased. More info Data table Direct materials price variance (based on purchases) $177,100F Direct materials efficiency variance $713,000U Direct manufacturing labor costs incurred 502,250 Variable manufacturing overhead flexible-budget variance 10,650U At the 30,000 budgeted direct manufacturing labor-hour level for August, budgeted direct manufacturing labor is $600,000, budgeted variable manufacturing overhead is $300,000, and budgeted fixed manufacturing overhead is $630,000. Variable manufacturing overhead efficiency variance 18,600U Fixed manufacturing overhead incurred 588,400 The standard cost per pound of direct materials is $11.50. The standard allowance is 6 pounds of direct materials for each unit of product. During August, 30,000 units of product were produced. There was no beginning inventory of direct materials. There was no beginning or ending work in process. In August, the direct materials price variance was $1.10 per pound. In July, labor unrest caused a major slowdown in the pace of production, resulting in an unfavorable direct manufacturing labor efficiency variance of $205,000. There was no direct manufacturing labor price variance. Labor unrest persisted into August. Some workers quit. Their replacements had to be hired at higher wage rates, which had to be extended to all workers. The actual average wage rate in August exceeded the standard average wage rate by $0.50 per hour