Ch 08 Ex 8-3 6 Saved Help Save Exercise 8-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $333,750 budgeted expenses include $293,700 variable expenses and $40,050 fixed expenses. Actual expenses include $46,450 fixed expenses 10 points Actual ariances Results Fixed Budget 11,300 $565, 000 395,500 $169,500 Sales (in units) Sales (in dollars) Total expenses Income from operations 8,900 eBook $445,000 333, 750 $111,250 $120, 000 F 61,750 U $ 58,250 F Hint Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately Ask SOLITAIRE COMPANY Flexible Budget Performance Report For Month Ended June 30 Print References Flexible Budget Actual ResultsVariances Fav./Unf 565,000$565,000 es ariable expenses Contribution margin 46,450 ixed expenses ncome from operations Ch 08 Ex 8-13 6 Saved Required information Use the following information for the Exercises belovw [The following information applies to the questions displayed below.] Hart Company made 4,200 bookshelves using 36,000 board feet of wood costing $360,000. The company's direct 10 points materials standards for one bookshelf are 9 board feet of wood at $9.90 per board foot. eBook Exercise 8-13 Computation and interpretation of materials variances LO P2 (1) Compute the direct materials price and quantity variances incurred in manufacturing these bookshelves Hint AQ Actual Quantity SO Standard Quantity AP = Actual Price Ask SP Standard Price Print Actual Cost Standard Cost References Exercise 8-15 Direct materials and direct labor variances LO P2 The following information describes production activities of Mercer Manufacturing for the year. Actual direct materials used Actual direct labor used Actual units produced 34,000 lbs. at $5.95 per lb. 10,600 hours for a total of $220,480 63,300 Budgeted standards for each unit produced are 0.50 pounds of direct material at $5.90 per pound and 10 minutes of direct labor at $21.80 per hour. AQ-Actual Quantity SO Standard Quantity AP = Actual Price SP Standard Price AH Actual Hours SH Standard Hours AR Actual Rate SR- Standard Rate (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable Complete this question by entering your answers in the tabs below Required 1Required 2 Compute the direct materials price and quantity variances. (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. Required 1 Required2 Compute the direct materials price and quantity variances. (Do not round intermediate calculations.) Actual Cost Standard Cost