Need all reqs for both :)

FOIL FUTU V Turna. V VI L CenterWare is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the actual results.) (Click the loon to view the standards.) Read the requirements. Requirement 1. Compute the direct labor rate variance and the direct labor efficiency variance. (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U). Abbreviations used: DL= Direct labor) - X Begin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor. Requirements DL rate variance ) = 1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Actual Results Standard Price and Volume CenterWare allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,000 flower pots: 8 pounds per pot at a cost of $5.00 per pound Purchased 9,300 pounds at a cost of $5.30 per pound; used 8,500 pounds to produce 1,000 pots Direct materials (resin) Direct materials Direct labor.... Worked 5.5 hours per flower pot (5,500 total DLH) at a cost of $15.00 per hour Direct labor..... Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate 5.0 hours at a cost of $16.00 per hour $7.00 per direct labor hour $58,000 Actual variable manufacturing overhead....... $7.50 per direct labor hour for total actual variable ... manufacturing overhead of $41,800 $57,800 $12.00 per direct labor hour (DLH) Actual fixed manufacturing overhead Standard fixed manufacturing overhead allocated based on actual production......... $60,000 MAY a --- 2 9 Aa H X tv A - - X Grand Display 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.) Requirements 1. Compute the variable manufacturing overhead variances. What do each of these variances tell management? 2. Compute the fixed manufacturing overhead variances. What do each of these variances tell management? Requirement 1. Compute the variable manufacturing overhead variances. What do each of these variances tell management? (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U).) Begin by computing the variable manufacturing overhead rate variance. First determine the formula for the rate variance, then compute the rate variance for variable manufacturing overhead. Variable overhead *( rate variance Actual Results Grand Display allocated fixed manufacturing overhead to production based on standard direct labor hours. Last month, the company reported the following actual results for the production of 1,600 flower pots: X Standard Price and Volume Purchased 16,980 pounds at a cost of $4.50 per pound; used 16,480 pounds to produce 1,600 pols Direct materials Direct labor Worked 3.2 hours per flower pot (5,120 total DLH) at a .... cost of $19.00 per hour 10 pounds per pot at a cost of $4.00 per .pound Direct materials (resin) Actual variable manufacturing $6.40 per direct labor hour for total actual variable overhead.......... manufacturing overhead of $32,768 Direct labor..... 3.0 hours at a cost of $20.00 per hour Actual fixed manufacturing overhead $30,400 $6.00 per direct labor hour Standard variable manufacturing overhead rate.... Budgeted fixed manufacturing overhead Standard fixed MOH rate Standard fixed manufacturing overhead allocated based on actual production. $30,600 .....$33,600 $7.00 per direct labor hour (DLH) 252 MAY a n 2 H NO Aa - tv 9 A