Complete Requirements 1 and 2

Homework: Homework Chapter 7 compete HW Score: 2.61%, 0.52 of 20 pts Score: 0 of 6 pts P7-38 (book/static) Question Help You are a new junior accountant at In Focus Corporation, maker of lenses for eyeglasses. Your company sells generic-quality lenses for a moderate price Your boss, d Controller has given you the latest months report for the lens trade association This report includes information related to operations for your firm and three of your competitors within the trade association. The report also includes information related to the industry benchmark for each line item in the report. You do not know oi which firm is which, except that you know you are firm A Click the icon to view the data.) Requirements 1. calculate the total variable cost per unit for each firm in the trade association Compute the percent of total for the material, labor and variable overhead components. 2. Using the trade association's industry benchmark, calculate drect materials and direct manufacturing labor price and efficiency variances for the four firms Calculate the percent over standard for each firm and each variance. Requirement 1. Calculate the total variable cost per unit for each finm in the trade association Compute the percent of total for the material, labor, and variable overhead components. (Round alcost amounts to the nearest cent. Round the percentages to two decimal places. Due to rounding the total of the percentages may not equal 100%) Firm A Direct materials Direct labor c Variable overhead 100.00 Total