II (20 points total, 5 points each) (Formula Hints provided at bottom of problem) (Make sure to show work so that partial credit may be given.) (a) Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is $4.00 per pound. If 15,000 units used 36,000 pounds, which were purchased at $4.25 per pound, what is the direct materials (A) price variance, (B) quantity variance, and (C) cost variance? (b) Bellingham Company produces a product that requires 4 standard direct labor hours per unit at an hourly rate of $25 per hour. If 15,000 units used 62,000 hours at an hourly rate of $24.50 per hour, what is the direct labor (A) rate variance, (B) time variance, and (C) cost variance? (c) Briggs Company has income from operations of $50,000, invested assets of $200,000, and Sales of $750,000. Use the DuPont formula to compute the return on investment and show (A) the profit margin, (B) the investment turnover, and (C) the return on investment. (d) The Commercial Division of Galena Company has income from operations of $13,000,000 and assets of $75,000,000. The minimum acceptable return on assets is 12%. What is the residual income for the division? Formula Hints TDMCV = DMPV + DMQV DMPV = (AP-SP) X AQ DMQV (AQ-SQ) X SP TDLCV = DLRV + DLTV DLRV (ADLR-SDLR) XAH DLTV (ADLH-SDLH) X SR RI OPINC MAI%IA PM OPINC/S IT=S/IA ROI = PMX IT