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5. If Preble had purchased 171,000 pounds of materials at $7.20
per pound and used 155,000 pounds in production, what would be the
materials price variance for March? (Indicate the
effect of each variance by selecting "F" for favorable, "U" for
unfavorable, and "None" for no effect (i.e., zero variance.). Input
all amounts as positive values.)
6. If Preble had purchased 171,000 pounds of materials at $7.20
per pound and used 155,000 pounds in production, what would be the
materials quantity variance for March? (Indicate the
effect of each variance by selecting "F" for favorable, "U" for
unfavorable, and "None" for no effect (i.e., zero variance.). Input
all amounts as positive values.)
8. What direct labor cost would be included in the company’s
flexible budget for March?
9. What is the labor rate variance for
March? (Indicate the effect of each variance by
selecting "F" for favorable, "U" for unfavorable, and "None" for no
effect (i.e., zero variance.). Input all amounts as positive
values.)
12. What variable manufacturing overhead cost would be included
in the company’s planning budget for March?
13. What variable manufacturing overhead cost would be included
in the company’s flexible budget for March?
14. What is the variable overhead rate variance for
March? (Round the actual overhead rate to two decimal
places. Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero variance.). Input all amounts as positive
values.)
15. What is the variable overhead efficiency variance for
March? (Round the actual overhead rate to two decimal
places. Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero variance.). Input all amounts as positive
values.)
These questions please
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 4 pounds at $9 per pound Direct labor: 3 hours at $15 per hour Variable overhead: 3 hours at $6 per hour Total standard cost per unit $ 36 45 18 $ 99 The planning budget for March was based on producing and selling 26,000 units. However, during March the company actually produced and sold 31,000 units and incurred the following costs: a. Purchased 155,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production. b. Direct laborers worked 56,000 hours at a rate of $16 per hour. c. Total variable manufacturing overhead for the month was $524,720.