The following describes production activities of Mercer Manufacturing for the year.    Actual direct materials used 18,000 lbs. at $4.15 per lb. Actual direct labor used 5,555 hours for a total of $106,656 Actual units produced 30,060   Budgeted standards for each unit produced are 0.50 pound of direct material at $4.10 per pound and 10 minutes of direct labor at $20.20 per hour.AH = Actual HoursSH = Standard HoursAR = Actual RateSR = Standard RateAQ = Actual QuantitySQ = Standard QuantityAP = Actual PriceSP = Standard Price  (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.)(2) Compute the direct labor rate and efficiency variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.)

Acme Company's production budget for August is 18,000 units and includes the following component unit costs: direct materials, $8.00; direct labor, $10.50; variable overhead, $6.40. Budgeted fixed overhead is $37,000. Actual production in August was 19,950 units. Actual unit component costs incurred during August include direct materials, $8.70; direct labor, $9.90; variable overhead, $7.30. Actual fixed overhead was $39,000. Required: Prepare a performance report, including each cost component. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Cost Component Direct materials Direct labor Variable overhead Fixed overhead Total budgeted cost Original Budget (18,000 units) $ Flexed Budget (19,950 units) 0 $ Actual Cost (19,950 units) 0 $ 0 Budget Variance

ABC Inc. uses a standard cost system for its production process. ABC applies overhead (fixed and variable) based on direct labor hours. The total budgeted overhead costs for august is P65,945.00 and the budgeted number of units to be produced is 5,450 units. The following information is available for August when Redd made 4,400 units:               Standard Data                         Direct Materials                         2 gallons at P5.00 per gallon                         Direct Labor                              1.80 hour at P80.00 per hour                         Fixed Overhead                         2.20 hour at P3.00 per hour                                                 During November, the company incurred the following costs: ·        Total Direct Materials purchased cost is P41,310 for 8,100 gallons. ·        Actual Variable overhead is P 29,950.00 Additional information: ·        Direct Materials used is 7,600 gallons ·        An actual direct labor hour for August…

Pinnacle Corp. budgeted $245,500 of overhead cost for the current year. Actual overhead costs for the year were $240,720. Pinnacle's plantwide allocation base, machine hours, was budgeted at 48,450 hours. Actual machine hours were 55,160. A total of 101,090 units was budgeted to be produced and 98,000 units were actually produced. Pinnacle's plantwide factory overhead rate for the current year is: a. $5.07 per machine hour b. $4.97 per machine hour c. $2.43 per machine hour d. $2.38 per machine hour

The following data are given for Stringer Company: Line Item Description Value Budgeted production 940 units Actual production   1,045 units Materials:       Standard price per ounce $1.78     Standard ounces per completed unit 11     Actual ounces purchased and used in production 11,840     Actual price paid for materials $24,272 Labor:       Standard hourly labor rate $14.00 per hour     Standard hours allowed per completed unit 4.4     Actual labor hours worked 5,381.75     Actual total labor costs $82,072 Overhead:       Actual and budgeted fixed overhead $1,099,000     Standard variable overhead rate $24.00 per standard labor hour     Actual variable overhead costs $150,689   Overhead is applied on standard labor hours. The direct materials quantity variance is a. 3,196.80 favorable b. 3,196.80 unfavorable c. 614.10 unfavorable d. 614.10 favorable

Pinnacle Corp. budgeted $218,050 of overhead cost for the current year. Actual overhead costs for the year were $207,500. Pinnacle's plantwide allocation base, machine hours, was budgeted at 53,300 hours. Actual machine hours were 46,460. A total of 91,830 units was budgeted to be produced and 98,000 units were actually produced. Pinnacle's plantwide factory overhead rate for the current year is: a.$2.26 per machine hour b.$4.09 per machine hour c.$3.89 per machine hour d.$2.37 per machine hour

Roget Factory has budgeted factory overhead for the year at $15,500,000. It plans to produce 2,000,000 units of product. Budgeted direct labor hours are 1,050,000, and budgeted machine hours are 750,000. Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is a. $20.67 b. $77.50 c. $7.75 Od. $14.76

Metlock Company applies overhead based on direct labour hours. Two direct labour hours are required for each unit of product. Planned production for the period was set at 9,000 units. Manufacturing overhead is budgeted at $126,000 for the period (20% of this cost is fixed). The 16,830 hours worked during the period resulted in the production of 8,230 units. The variable manufacturing overhead cost incurred was $102,300 and the fixed manufacturing overhead cost was $28,100. please complete answer

The following data pertains to the month of October for ElmCo. when production was budgeted to be 5,000 units of P90. P90 has standard costs per unit of: 3 lbs. of Direct Materials at a cost of $7.00 per lb.; 0.20 hours of Direct Labor at $18.00 per hour; and Variable Overhead assigned on the basis of 0.05 machine hours at a rate of $50 per machine hour. Actual production of P90 for October was 4,600 units. In October the production of P90 totaled 4,600 units, using 15,100 lbs of material costing a total of $107,778. Determine the direct materials quantity variance. (Negative numbers indicate a favorable variance.)

Roget Factory has budgeted factory overhead for the year at $4,392,000. It plans to produce 2,000,000 units of product. Budgeted direct labor hours are 360,000, and budgeted machine hours are 750,000. Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is a.$12.20 b.$15.86 c.$6.10