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7a

7b

Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $80 per unit and variable costs of \$35 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials ( 15 pounds a $3 per pound) Direct labor ( 3 hours a $14 per hour) During June the company incurred the following actual costs to produce 8,500 units. Direct materials ( 130,100 pounds @ $2.80$364,280 per pound) Direct labor ( 29,400 hours a $14.20 per hour) AR = Actual Rate SR = Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Compute the direct materials price and quantity variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Camila Company has set the following standard cost per unit for direct materials and direct labor. During June the company incurred the following actual costs to produce 8,500 units. Direct materials (15 pounds @ $3%45 per pound) Direct labor ( 3 hours @ $14 per hour) During June the company incurred the following actual costs to Direct materials ( 130,100 pounds @ $2.80$360 per per pound) Direct labor ( 29,400 hours @ $14.20 per hour) AR= Actual Rate SR= Standard Rate AQ= Actual Quantity SQ= Standard Quantity AP= Actual Price SP= Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Complete this question by entering your answers in the tabs below. Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted