31 32 33 34 Exercise 16-44 (Algo) (Appendix used in requirement [b]) Variable Cost Variances (LO 16-5, 7) Rankin Fabrication reports the following information with respect to its direct materials: Actual quantities of direct materials used Actual costs of direct materials used Standard price per unit of direct materials Flexible budget for direct materials Rankin Fabrication holds no materials Inventories. Required: a. Compute the direct material price and efficiency variances. b. (Appendix) Prepare the journal entries to record the purchase and use of the direct materials using standard costing. Required A Required B 33,800 gallons Complete this question by entering your answers in the tabs below. $ 188,080 $ 5.62 $ 197,800 Direct materials price variance Direct materials efficiency variance Compute the direct material price and efficiency variances. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Required A Required B >

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Exercise 16.44 (Algo) (Appendix used in requirement [b]) Variable Cost Variances (LO 16-5, 7) Rankin Fabrication reports the following information wath respect to its direct materials: Rarkh Fabrication holds no materials inventories. Required: a. Compute the direct material price and etficiency variances b. Apotidix) Prepore the Joumal entries to record the purchase and use of the direct materials using standard costing Complete this question by entering your answers in the tabs below. Compute the diect material price and effiency variances. Harlow Parts produces a single product at its Superior Plant. The master budget for July follows: The following operating income statement shows the actual results for July: Variable overhead is applied on the basis of machine-hours. The standard cost sheet follows: Variable overhead is applied on the basis of machine-hours. The standard cost sheet follows: The actual resource usage for July per unit of output follows: Required: Prepare a manufacturing cost variance analysis for the Superior Plant for July. Note: Do not round intermediate calculations and Round your answers to the nearest whole dollar amount. Indica each variance by selecting "F" for favorable, or " U "for unfavorable. If there is no effect, do not select either optio Required: Prepare a manufacturing cost variance analysis for the Superior Plant for July. Note: Do not round intermediate calculations and Round your answers to the nearest whole dollar amount. Indicate the effect of each variance by selecting " F " for favorable, or " U " for unfavorable. If there is no effect, do not select either option. Problem 16-78 (Algo) Profit Variance Analysis (LO 16-2, 3, 4) Harlow Parts produces a single product at its Superior Plant. The master budget for July follows: The following operating income statement shows the actual results for July: Required: Prepare a profit variance analysis for the Superior Plant for July. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Exercise 16.44 (Algo) (Appendix used in requirement [b]) Variable Cost Variances (LO 16-5, 7) Rankin Fabrication reports the following information wath respect to its direct materials: Rarkh Fabrication holds no materials inventories. Required: a. Compute the direct material price and etficiency variances b. Apotidix) Prepore the Joumal entries to record the purchase and use of the direct materials using standard costing Complete this question by entering your answers in the tabs below. Compute the diect material price and effiency variances. Harlow Parts produces a single product at its Superior Plant. The master budget for July follows: The following operating income statement shows the actual results for July: Variable overhead is applied on the basis of machine-hours. The standard cost sheet follows: Variable overhead is applied on the basis of machine-hours. The standard cost sheet follows: The actual resource usage for July per unit of output follows: Required: Prepare a manufacturing cost variance analysis for the Superior Plant for July. Note: Do not round intermediate calculations and Round your answers to the nearest whole dollar amount. Indica each variance by selecting "F" for favorable, or " U "for unfavorable. If there is no effect, do not select either optio Required: Prepare a manufacturing cost variance analysis for the Superior Plant for July. Note: Do not round intermediate calculations and Round your answers to the nearest whole dollar amount. Indicate the effect of each variance by selecting " F " for favorable, or " U " for unfavorable. If there is no effect, do not select either option. Problem 16-78 (Algo) Profit Variance Analysis (LO 16-2, 3, 4) Harlow Parts produces a single product at its Superior Plant. The master budget for July follows: The following operating income statement shows the actual results for July: Required: Prepare a profit variance analysis for the Superior Plant for July. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)