You are a now junior accountant at Clearsight Corporation, maker of lenses for eyeglasses. Your company sells generic quality lenses for a moderate price. Your boss, the controller, has given you the latest month's report for the lons trade association. This report includes information related to operations for your firm and three of your competitors within the trade association The report also includes information related to the industry benchmark for each line item in the report. You do not know which firm is which, except that you know you are firm A Click the icon to view the data.) Read the requirements % Over ( Input price per qty of Ind. BM Input price per qly of firm )/ Variable OH rate of firm 7 ) x 100 Std Now calculate the direct materials and direct manufacturing labor price and efficiency variances for the four firms using the industry standard as a benchmark Calculate the percent over standard for each firm and each variance. Label each variance as favorable (F) or unfavorable (U) (Round all amounts to two decimal places. For amounts with a $0 balance, make sure to enter "Oin the appropriate field. If the vanance is zero, do not select a label. Use parentheses or a minus sign for percentages under standard. Abbreviation used var variance) Firm A Firm C Firm D % over standard % Over Firm B % over Variance standard % over standard Variance Variance Variance standard DM price var DM efficiency var DL price var DL efficiency var Choose from any list or enter any number in the input fields and then continue to the next question. Save for Later ou Et 9 Tunn har to sam wl em in the road Now icon to vie Data Table irements Ver ce per ty the direct Calculate the wo decimal arentheses o ry stan rable Kero, de Unit Variable Costs - Member Firms For the Month Ended September 30, 2017 Firm A Firm B Firm C Firm D Industry Benchmark Materials input 2.20 2.30 2.25 || 2.70 2.20 oz of glass Materials price $ 5.00 $ 5.50 $ 5.10 $ 4.75 $ 5.10 per oz. Labor-hours used 0.75 0.65 0.90 0.95 0.95 hours Wage rate $ 14.50 $ 14.00 $ 13.75 $ 15.25 $ 12.50 per DLH Variable overhead rate $ 10.00 $ 14.25 $ 7.00 $ 11.50 $ 13.00 per DLH cy var Print | Done cy var m any list or enter any number in the input fields and then continue to the next question. Later Type here to search