Mountain MistValley StreamPrice VarianceEfficiency VariancePrice VarianceEfficiency VarianceDirect materialsDirect laborVariable overheadProduction VolumeProduction VolumePrice VariancePrice VarianceVarianceVarianceFixed overhead Sweetwater Company manufactures two products, Mountain Mist and Valley Stream. The company prepares its master budget on thebasis of standard costs. The following data are for March.StandardsMountain MistValley StreamDirect materialsDirect laborVariable overhead (per direct labor-hour)Fixed overhead (per month)Expected activity (direct labor-hours)3 ounces at $14.60 per ounce5 hours at $60.40 per hour$48$370,6406,5604 ounces at $17.20 per ounce6 hours at $80 per hour$53.40$399,3607,800Actual resultsDirect material (purchased and used)Direct labor4,000 ounces at $14.40 per ounce4,990 hours at $63.00 per hour$263,550$325,9501,090 units4,500 ounces at $19.50 per ounce7,500 hours at $84.60 per hour$387,510$399, 3001,240 unitsVariable overheadFixed overheadUnits produced (actual)Required:a. Prepare a variance analysis for each variable cost for each product.b. Prepare a fixed overhead variance analysis for each product.(For all requirements, Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or"U" for unfavorable. If there is no effect, do not select either option.)

Name: Mountain MistValley StreamPrice VarianceEfficiency VariancePrice Vari
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Mountain MistValley StreamPrice VarianceEfficiency VariancePrice VarianceEfficiency VarianceDirect materialsDirect laborVariable overheadProduction VolumeProduction VolumePrice VariancePrice VarianceVarianceVarianceFixed overhead Sweetwater Company