z Problem 9-18 Comprehensive Variance Analysis (L09-4, LO9-5, LO9-6) 15 points Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below book Plexible Budget Actual 1.219.000 19.000 AER Bine Sales (4,000 pool) Variable expenses Variable cost of goods sold Variable selling expenses Total variable expenses Contribution margin Fixed Expenses Manufacturing overhead Selling and dinistrative Total fixed expenses Net operating income (los) 57,600 16.000 25.000 3652320 70,390 16.000 8690 12010 RES 72.000 72,00 32,000 82.0 154,000 156.000 11,120 S (1,3) *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 instructions to get things under control Upon reviewing the plants Income statement Ms Dunn has concluded that the major problemes in the variable cost of goods sold She has been provided with the following standard cost per swimming pool, 2 Check my w 5 bott Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Quantity or 3.2 pounds 9.6 hours 0.5 hours Stward Price orate $ 7.70 per pound $ 2.0 per hour 2.0 per hour Standard Cost 2,04 4. 1.40 $14.42 ebook ACM Print References "Based on machine hours. During June the plant produced 4,000 pools and incurred the following costs a. Purchased 17,800 pounds of materials at a cost of $3.15 per pound. b. Used 12.600 pounds of materials in production (Finished goods and work in process inventories are insignificant and can be ignored.) c. Worked 3.000 direct labor-hours at a cost of $7.00 per hour. d. Incurred variable manufacturing overhead cost totaling $7360 for the month. A total of 2,300 machine-hours was recorded 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 W Wydent/Alumni Apply for Financial McAlee SECURE- Chapter 9 Homework > Production Help Save & E Sur 2 Check my work . Required: 1. Compute the following variances for Junie 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 overall favorable or unfavorable variance for the month eBook ASK Complete this question by entering your answers in the tabs below. Print eferences Required 1 Required 2 TE 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 variance by selecting "F" for favorable, um for unfavorable, and "None for no effect le zero variance Input the amount as positive value. Net variance