Robinwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs.The following data are for September:StandardsDirect materialsDirect labor,Variable overhead (per direct labor-hour)Fixed overhead (per month)Expected activity (direct labor-hours)Actual resultsDirect material (purchased and used)Direct laborVariable overheadFixed overheadUnits produced (actual)Direct materialsDirect laborVariable overheadFixed overheadPrice VarianceFFKA-0.75 pounds at $8.00 per pound1.25 hours at $26.00 per hour$ 21.20K4$ 416,40017,350Required:a. Prepare a variance analysis for each variable cost for each product.b. Prepare a fixed overhead variance analysis for each product.Note: For all requirements, Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" forfavorable, or "U" for unfavorable. If there is no effect, do not select either option.10,300 pounds at $7.40 per pound14,800 hours at $26.38 per hour$ 331,060$ 386,74012,200 unitsEfficiency VarianceProduction VolumeVariancePrice Variance1 pound at $8.60 per pound1.50 hours at $30 per hour$ 23.00F$493,50023,50014,200 pounds at $8.90 per pound22,300 hours at $32.60 per hour$ 464,212$ 490,84014,500 unitsX7Efficiency VarianceFFFProduction VolumeVariance

Name: Robinwood Fixtures manufactures two products, K4 and X7. The company
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Robinwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs.The following data are for September:StandardsDirect materialsDirect labor,Variable overhead (per direct labor-hour)Fixed