Problem $9-18($Algo$)$ Comprehenslve Varlance Analysls $[$LO$9-4,$ LO$9-5,$ LO$9-6]$

Miler Toy Compony monufactures a plastic swimming po by its June contribution format income statement below.

Janet Dunn, who has Just been appointed general manoger of the Westwood Plant. has been given instructions to "get things under

control." Upon reviewing the plant's income statement, Ms$.$ Dunn has concluded that the major problem lies in the variable cost of

control" Upon reviewing the plant's income statement, Ms$.$ Dunn has concluded that the goods sold. She has been provided with the following standard cost per swimming pool;

'Based on machine$-$hours.

During June the plam produced $8,000$ pools and incurred the following costs:

a$.$ Purchased $33,000$ pounds of materials at a cost of $$2\mathrm{.}95$ per pound

a$.$ Purchased $33,000$ pounds of materials at a cost of $$2,95$ per pound. b$.$ Used $27,800$ pounds of materials in production. $($Finished goods and work in process inventories are insignificant and can be

c$.$ Worked $3\mathrm{.}800$ direct labor$-$hours at a cost of $$6\mathrm{.}20$ per hour:

c$.$ Worked $3\mathrm{.}800$ direct labor$-$hours at a cost of $$6\mathrm{.}20$ per hour. d$.$ Incurred variable manufacturing overhead cost totaling $$4,560$ for the month. A total of $1,900$ machine$-$hours was recorded.

It is the company's policy to close all variances to cost of goods sold on a monthly basis.

Required:

Compute the following variances for June:

a$.$ Materials price and cuantity variances.

b$.$ Labor rate and efficiency variances. c$.$ Variable overhead rate snd efficiency variances.

$2$ Summarize the variances that you computed in $()$ above by showing the net overall favorable or unfavorable variance for the month.

Complete this question by entering your answers in the tabs below.

Required $1$

$1$a$.$ Compute the following variances for June, materials price and quantity variances.

$1$b$.$ Compute the following variances for June, labor rate and efficiency variances.

$1$c$.$ Compute the following variances for June, variable overhead rate and efficiency variances.

$($Do not round your intermediate calculations. Indicate the effect of each variance by selecting $"F"$ for favorable, $"$U$"$ for

unfavorable, and "None" for no effect $($i$.$e$.,$ zero variance$).$ Input all amounts as positive values.$)$

Complete this question by entering your answers in the tabs below.

Required $1$ Required $2$

Summarize the variances that you computed in $(1)$ above by showing the net overall favorable or unfavorable variance for the

month. $($Indicate the effect of each variance by selecting $"$F$"$ for favorable. $"$U$"$ for unfavorable, and "None" for no effect $($i$.$e$..$

month. $($Indicate the effect of each variance by selectince