standard costs part 1 1 10 495422

4ftn3 Assignrnent Print Msr Exercise ))-1-16 Direet materiats and direct labor variances L”A” PZ The folilowing inforrnation describes production actir,ities of Truzar l,lanuhcturing forthe year Actuarl raw matedals used per 38,000 lbs. at lb. $5.70 Actual factory payroll 6,000 hours for a total of $96,[,110 Actual units prroduced 30,000 BudgeteJ standards for produced pounds each unit are 1.00 of nrw material at per pourd 10.0 $5.80 and minutes of direct labor at per hour. $15.50 (1)Compute the dircct matefials price quantity and ariances.{lnput all amount aea positive value. lndicate the effect of each varianc€ by selecting “F” for favorable, “U” for unfavorable, and ‘Non’e” for no effect zero variance}, Leave – {i.e., no crl{ls blank be certain to enler “0” wherrever required. Omit the ‘$” dgn in your response) Price adance $ ffi.H Quantity rariance $ (2lc.e,rnpute the dir€ct labor €te and &ciercy wiances. (lnp,ut all amount positive value. as a lndicale the effiect of each variance by selecting “F” for favorable, for unfavorable, and “U” fur no “None” efiect zero variance}, Leave no cells blank – be certain to enter {i,e., “0” wherever required. Omit the “$’ dgn in your raryonse) Rate rarianee Effciency ariance €xercise 2t -f 6 !)irecf m*fen’aJs and direct ia$ sr Learning Objective: 21-P? Com pute m aterials and Workshieet yariances ,? L.A f labor tariances. 2. Exercise 21-3 Preparation af a flexible budget pertormance report L.O. P1 Omanon performance Company’s fixed budget rcport for July fullcrrs. The $630,Ct00 budgeted expenses include rariable expenses $592,2ff1 and $37,800 fxed expensas. lctual expenses include fixed $49,800 expenses. Fixed Budget Actual Results Vimances (in Sales units) 8,400 10,900 Sales (in dollars) $840,000 $1,090,000 F $2rt0,000 Totat exp,enses 630,000 756,000 1i:6,000 u lncome f,om operations $21 0,000 324,000 4,000 F $ $11 Preparc a flexible budget perbrmance rcport sholving any ariances…