Betty's Bakery has the following standard cost sheet for one unit of its most popular cake: Direct materials Direct labor SQ 1.2 pounds 0.8 hours SP $ 1.50 per pound $ 12.00 per hour During the month of May, the company made 660 cakes and incurred the following actual costs: Direct materials purchased and used (960 pounds), $1,248 Direct labor (720 hours), $8,280 Required: 1. Calculate the direct materials price variance. 2. Calculate the direct materials quantity variance. 3. Calculate the direct materials spending variance. 4. Calculate the direct labor rate variance. 5. Calculate the direct labor efficiency variance. 6. Calculate the direct labor spending variance. Note: For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations to two decimal places. 1. Direct materials price variance 2. Direct materials quantity variance 3. Total direct materials spending variance 4. Direct labor rate variance 5. Direct labor efficiency variance 6. Total direct labor spending variance

FOOD Industries employs a standard cost system. FOOD has established the following PER UNIT standards for the prime costs of its product XYZ frozen desserts line: Standard Quantity Standard Price/ Rate Standard Cost of DM/ DL per unit per KG/ DLH Direct Materials 8kg %241.80 per KG $414.40 Direct Labour 0.25 DLH (15 minutes) $8.00 per DLH $2.00 Total Cost 16.40 During November, the company purchased 142,500 KG of direct materials at a total cost of $285,000. The total factory wages for November were $37,800. The company manufactured 19,000 units of XYZ during November using 142,500 kg of direct materials and 5,000 direct labour hours. Required: SHOW ALL CALCULATIONS 1. Compute the direct materials a) flexible budget, b) price and c) quantity variance for November. 2. Compute the direct labour a) flexible budget, b) rate and c) efficiency variance for November. 15 3cer

Miguez Corporation makes a product with the following standard costs:     Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 2.3 liters $ 7.00 per liter $ 16.10 Direct labor 0.7 hours $ 22.00 per hour $ 15.40 Variable overhead 0.7 hours $ 2.00 per hour $ 1.40   The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.   The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.   The labor rate variance for September is:   Multiple Choice   $3,675 F   $3,528 U   $3,528 F   $3,675 U

Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows:     Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (plastic) 12 sq ft. $ 1.45 per sq. ft. $ 17.40 Direct labor 0.3 hr. $ 11.90 per hr.   3.57 Variable manufacturing overhead (based on direct labor hours) 0.3 hr. $ 2.30 per hr.   0.69 Fixed manufacturing overhead ($461,000 ÷ 922,000 units)             0.50   Parker Plastic had the following actual results for the past year:        Number of units produced and sold   1,160,000 Number of square feet of plastic used   12,000,000 Cost of plastic purchased and used $ 16,800,000 Number of labor hours worked   320,000 Direct labor cost $ 3,744,000 Variable overhead cost $ 1,100,000 Fixed overhead cost $ 377,000   Required:Calculate Parker Plastic’s direct labor rate and efficiency variances. (Do not round intermediate calculations. Indicate the…