please help!

Options for requirements 2a, 2b, 2c

Actual hours

Actual price

Actual quantity purchased

Actual quantity used

Standard hours allowed

Standard price

Standard quantity allowed

Standard Rate

Actual rate

F/U

2d

Actual fixed overhead

Budgeted fixed overhead

Standard hours allowed

Standard quantity allowed

Standard rate

Std. fixed overhead cost allocated to production

F/U

3

it took less material than the standard to produce the 1,600 awnings

it took more material than the standard to produce the 1,600 awnings

the actual price paid for material was more than the standard

the actual price paid for material was less than the standard

additional suppliers entered the market

purchasing higher quality materials

decreased efficiency of employees

hired less qualified employees

hired more qualified employees

improved efficiency of employees

Pickul Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data BEE (Click the loon to view the standards.) Actual cost and operating data from the most recent month are as follows: II! Click the icon to view the actual results.) All mandacturing overhead is located on the basis of direct labor hours Read the requirements -X - X Standard price and volume Requirements Standards: Direct meras 100 yards per awning at $16.00 per yard Direct labor 5.0 hours per wing at $17.00 per hour Variable MOH standard rate 52.00 per direct labor hour Predetermined foed MOH dard rate $500 per direct laborhout Total budgeted foed MOHcost $37.500 1. Calculate the standard cost of one awning 2. Calculate the following variances a. The direct material variances b. The dreckisbor variances c. The variable manufacturing overhead variances d. The found manufacturing overhead voces 3. Explain what each of the variances you calculated means and give at least one possible explanation for each of these variances Are any of the variances likely to be interested Actual results Print Done Purchased 33.120 yards at a tal cost of $506736 Used 20.300 din producing 1.500 awing Actual de la cost of or of hours A MOH 310 420 A MOH 2000 then your newer to the area whole Label Required (U) A Requirement 1. Calculate the standard cost of one awning, Standard cost Standard cost per unit Direct materials Direct labor Variable MOH Fixed MOH Total standard cost Requirement 2a. Calculate the direct material variances. (Enter the variances as positive numbers. Enter currency amounts to the nearest centar unfavorable (U). Abbreviations used: DM - Direct materials.) First determine the formula for the price variance, then compute the price variance for direct materials. DM price variance * Determine the formula for the quantity variance, then compute the quantity variance for direct materials. DM quantity variance Requirement 2b. Calculate the direct labor variances. (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and (U). Abbreviations used: DL - Direct labor.) First determine the formula for the rate variance, then compute the rate variance for direct labor. DL rate variance First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. DL efficiency variance Requirement 2c. Calculate the variable manufacturing overhead variances. (Enter the variances as positive numbers. Enter currency amounts to favorable (F) or unfavorable (U). First determine the formula for the rate variance, then compute the rate variance for variable manufacturing overhead (Round interim calculations Variable overhead rate variance Now compute the variable manufacturing overhead efficiency variance. First determine the formula for the efficiency variance, then compute the eff Variable overhead officiency variance Requirement 2d. Calculate the fixed manufacturing overhead variances (Enter the variance as a positive number. Label the variance as favorable (F) or unfavorable Begin by computing the fixed manufacturing overhead budget variance. First determine the formula for the budget variance, then compute the budget variance for fixed Fixed MOH budget variance Now compute the fixed manufacturing overhead volume variance. First determine the formula for the volume variance, then compute the volume variance for fixed manu Fixed MOH volume variance Requirement 3. Explain what each of the variances you calculated means and give at least one possible explanation for each of those variance . Direct materials: Moaning Possible explanation Variance DM price DM quantity Direct Labor Meaning Possible explanation Variance DL rate OL efficiency Variable manufacturing overhead: Meaning Possible explanation Variance Vorale VOH ency Rued manytecturing overhead: Variance Meaning FOH budget Possible explanation FOHY Avery of the variance key to be Wereld? This may be used in The wariskaly to be related to the variance is that Piduling Pickul Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: BLIClick the con the standarde Actual cost and operating data from the most recent month are as follows: (Click the icon to view the actual results.) All manufacturing overhead is allocated on the basis of direct labor hours. Standard price and volume Actual results Standards: Direct materials 19.0 yards per awning at $16.00 per yard Direct labor 5.0 hours per awning at $17.00 per hour Variable MOH standard rate $2.00 per direct labor hour Predetermined fixed MOH standard rate $5.00 per direct labor hour Total budgoted fixed MOH cost $37,500 Requirements Purchased 33,120 yards at a total cost of $506,736 Used 29,300 yards in producing 1.600 awnings Actual direct labor cost of $136,590 for a total of 7,850 hours Actual variablo MOH $19.625 Actual foced MOH $42,000 Print 1. Calculate the standard cost of one awning 2. Calculate the following variances a. The direct material variances b. The direct labor variances o. The variable manutacturing overheat variancen d. The fixed manufacturing overhead variances 3. Explain what each of the variances you calculated means and give at least one possible explanation for each of those variances Aro any of the Variances likely to be interrelated? VOH Next