Required information[The following information applies to the questions displayed below.]Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on directlabor-hours and its standard cost card per unit is as follows:Direct materials: 4 pounds at $10 per poundDirect labor: 2 hours at $16 per hour$ 4032Variable overhead: 2 hours at $6 per hour12Total standard cost per unit$ 84The planning budget for March was based on producing and selling 30,000 units. However, during March the companyactually produced and sold 34,500 units and incurred the following costs:a. Purchased 150,000 pounds of raw materials at a cost of $9.20 per pound. All of this material was used in production.b. Direct laborers worked 62,000 hours at a rate of $17 per hour.c. Total variable manufacturing overhead for the month was $390,600.10. What is the labor efficiency variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.)Labor efficiency varianceF

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Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Required information[The following information applies to the questions displayed below.]Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on directlabor-hours and its standard cost card per