1. Compute the direct material, direct labor and variable overhead variances.

The standard cost card for a single unit of Robinson, Inc.'s products is shown below Standard Unit Cost Standard Quantity Standard Price/Rate 20.00 9.00 5.00 $8.00 per yard $18.00 per hour $10.00 per hour Direct materials: Direct labor: Variable overhead (based on labor hours) 2.5 yards @ 0.5 hours @ 0.5 hours @ Budgeted production for the month Actual production for the month 14,000 units 13,500 units Actual Costs Incurred to Produce 13,500 units: Direct Materials Purchased and Used Direct Labor Paid Variable Overhead Incurred Total Actual Cost $245,700 $129,938 $89,100 $7.00 per yard $17.50 per hour $12.00 per hour 35,100 yards @ 7,425 hours @ 7,425 hours @ Complete the following table comparing actual costs to the flexible budget and master budget. Use formulas for the spending and volume variances so that variance will appear as a negative number if unfavorable and a ositivenumber if favorable. Complete the following table comparing actual costs to the flexible budget and master budget. Use formulas for the spending and volume variances so that variance will appear as a negative number if unfavorable and a positive number if favorable. Spending Flexible Volume Master Actual Costs Variances Budget Variances Budget $245,700 $129,938 $89,100 Direct materials: Direct labor: Variable overhead: Using the formulas provided, compute the following variances Write if statements to enter an F or U to indicate whether the variance is favorable or unfavorable. Direct materials: For U Variance Price Variance AQ (SP - AP) Quantity Variance -sp (sQ-AQ) Total Spending Variance Direct Labor Rate Variance AH (SR - AR) Efficiency Variance SR * (SH - AH) Total Spending Variance Variable Overhead Rate Variance AH (SR - AR) Efficiency Variance SR * (SH - AH) Total Spending Variance