list n 1 on 2 on 3 Standards K Direct materials (resin) Direct labor. Elegant Designs is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) (Click the icon to view the actual results.) Read the requirements. Requirement 1. Compute the direct material price variance and the direct material quantity variance. (Enter the variances as positive numbers. Enter currency amounts in the formula to the neare cent and then round the final variance amount to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DM = Direct materials) First determine the formula for the price variance, then compute the price variance for direct materials. Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate.. Print x ( 10 pounds per pot at a cost of $3.00 per . pound 5.0 hours at a cost of $19.00 per hour $3.00 per direct labor hour $94,000 $12.00 per direct labor hour (DLH) Done X DM price variance Actual Results Elegant Designs allocates fixed manufacturing overhead to production based on standard direct labor hours. Last month, Elegant Designs reported the following actual results for the production of 1,600 flower pots: Direct materials. Direct labor. Actual variable manufacturing overhead Actual fixed manufacturing overhead Standard fixed manufacturing overhead allocated based on actual production. Purchased 17,820 pounds at a cost of $3.50 per pound; used 17,120 pounds to produce 1,600 pots Worked 5.5 hours per flower pot (8,800 total DLH) at a cost of $18.00 per hour $3.20 per direct labor hour for total actual variable manufacturing overhead of $28,160 $93,500 I $96,000

Elegant Designs allocates fixed manufacturing overhead to production based on standard direct labor hours. Last month, Elegant Designs reported the following actual results for the production of 1,600 flower pots: Elegant Designs is a manulacturer of lasge fewer pels for urban settings. The cempany has these standards: (Cich the lecen to vere the ntandards) (Cick the icon to view the actual retuits)] Read the reavirements Fint determine the formula for the price varance, thes comsule the price variavee for direct materials. =1)= Standards Actual Results 10 pounds per pot at a cost of $3.00 per Direct materials (resin) pound Direct labor. 5.0 hours at a cost of $19.00 per hour Standard variable manufacturing overhead rate .... $3.00 per direct labor hour Budgeted fixed manufacturing overhead ......... $94,000 Standard fixed MOH rate................\$12.00 per direct labor hour (DLH) Elegant Designs is a manufacturer of large flower pots for urban seltings. The company has these standards: (Click the icon to viow the standards.) (Click the icon to view the actual resula.) Read the requirements: Requirement 1. Compute the direct material price variance and the direct material quantly variance. (Enter the vaciances as positwe numbers. Enter curtancy amounts in the formula to the nearest cent and then round the firsil variance amount to the nearest whole dolar. Label the variance as tavorabte (F) er unfavorable (U). Abbrevasions used: DM: = Direct materials) Finst determine the formula for the price variance, then compute the price variance for dinect materials. \begin{tabular}{|c|c|c|c|} \hline0 & 1.1 & 1= & OM price variance \\ \hline1 & 1. & 1= & \\ \hline \end{tabular}