ork mode : This shows what is correct or incorrect for the work you have complet

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ork mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com Return to q Required information The Foundational 15 [LO10-1, L010-2, LO10-3] The following information applies to the questions displayed below.) Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $8 per pound 40 Direct labor: 4 hours at $15 per hour Variable overhead: 4 hours at $5 per hour2e Total standard cost per unit 60 $120 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 24,000 units and incurred the following costs: a. Purchased 150,000 pounds of raw materials at a cost of $6.40 per pound. All of this material was used in re to search ?" 7/31/201 PrtScn Home End PgUp PgDn ins

Explanation / Answer

5) Material price variance = (8-6.40)*181000 = 289600 F

6) Material quantity variance = (24000*5-150000)*8 = 240000 U

7) Direct labour in planning budget = 21000*60 = 1260000

8) Direct labour in flexible budget = 24000*60 = 1440000

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