ADM$2341$ S $2025$ Chapter $10$ Capstone Question $1$ Fine Lumber Inc. mills and finishes fumiture $\backslash ($ k $\backslash )$ its. A certain kit requires the following: Direct materials standard Direct manufacturing labor standard $2$ square yards at $\backslash (\backslash$$ $13\mathrm{.}50\backslash )$ per yard $1\mathrm{.}5$ hours at $\backslash (\backslash$$ $20\mathrm{.}00\backslash )$ per hour During the third quarter, the company made $1,500$ kits and used $3,150$ square yards of wood costing $\backslash (\backslash$$ $42,000\backslash ).$ Direct labor to taled $2,100$ hours for $\backslash (\backslash$$ $46,150\backslash ).$ Required: a$.$ Compute the direct materials price and efficiency variances for the quarter. b$.$ Compute the direct manufacturing labor price and efficiency variances for the quarter. Required: a$)$ Compute the direct materials price and quantity variances for the quarter. b$)$ Compute the direct manufacturing labour rate and efficiency variances for the quarter. Question $2$ Different management levels in Bates, Inc., require varying degrees of managerial accounting information Because of the need to comply with the managers' requests, four different variances for manufacturing overhead are computed each month. The information for the September overhead expenditures is as follows: Required: a$.$ Compute the variable overhead spending variance. b$.$ Compute the variable overhead efficiency variance. c$.$ Compute the fixed overhead budget variance. d$.$ Compute the fixed overhead volume variance. e$.$ Provide the meaning of each of these variances and their relevance to performance management.