Please do not give image format and explanation Waterway, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard costcard for the shirts is as follows.Direct materialsDirect laborVariable overheadFixed overheadStandard Price$3 per yard$14 per DLHIndirect materialIndirect laborEquipment repairEquipment power$3.20 per DLH$3 per DLHTotalStandard Quantity2.00 yards0.75 DLH0.75 DLH0.75 DLHSandy Robison, operations manager, was reviewing the results for November when he became upset by the unfavorable variances hewas seeing. In an attempt to understand what had happened, Sandy asked CFO Suzy Summers for more information. She provided thefollowing overhead budgets, along with the actual results for November.Variable Overhead BudgetPer Shirt$1.200.75Annual Budget$445,000302,000200,00048,000The company purchased 82,900 yards of fabric and used 94,500 yards of fabric during the month. Fabric purchases during the monthwere made at $2.80 per yard. The direct labor payroll ran $470,400, with an actual hourly rate of $12.25 per direct labor hour. Theannual budgets were based on the production of 609,000 shirts, using 459,000 direct labor hours. Though the budget for Novemberwas based on 46,400 shirts, the company actually produced 42,900 shirts during the month.$995,000Standard Cost$6.0010.500.300.15$2.402.40$21.152.25November-Actual$49,10031,40020,9006,800$108,200 Supervisory salariesInsuranceProperty taxesDepreciationUtilitiesQuality inspectionTotalDirect material price varianceDirect material quantity variance $Direct labor rate variance$O Show Transcribed Text$Direct labor efficiency variance $Variable overhead spending varianceVariable overhead efficiency varianceFixed Overhead BudgetAnnual Budget November-ActualFixed overhead spending variance$258,000$S350,00084,0003$320,000(a) Calculate the direct materials price and quantity variances for November. (If variance is zero, select "Not Applicable and enter O for theamounts.)215,000282,000$1,509,000(b) Calculate the direct labor rate and efficiency variances for November. (Round answers to 0 decimal places, e.g. 125. If variance is zero,select "Not Applicable" and enter O for the amounts)$21,90027,9006,40026,20020,900(c) Calculate the variable overhead spending and efficiency variances for November. (Round answers to O decimal places, e.g. 125. Ifvariance is zero, select "Not Applicable" and enter O for the amounts.)25,500$128,800(d) Calculate the fixed overhead spending variance for November. (Round answer to O decimal places, eg. 125. If variance is zero, select"Not Applicable" and enter O for the amounts.)

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Description: Please do not give image format and explanation Waterway, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard costcard for the shirts is as follows.Direct materialsDirect laborVariable

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Waterway, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard cost card for the shirts is as follows. Direct materials Direct labor Variable overhead Fixed overhead Standard Price $3 per yard $14 per DLH $3.20 per DLH $3 per DLH Standard Quantity 2.00 yards 0.75 DLH 0.75 DLH 0.75 DLH Standard Cost $6.00 10.50 2.40 2.25

Waterway, Ltd. manufactures shirts, which it sells to customers for embroidering with various slogans and emblems. The standard cost card for the shirts is as follows. Direct materials Direct labor Variable overhead Fixed overhead Standard Price $3 per yard $14 per DLH $3.20 per DLH $3 per DLH Standard Quantity 2.00 yards 0.75 DLH 0.75 DLH 0.75 DLH Standard Cost $6.00 10.50 2.40 2.25

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 13EB: Stacks manufactures two different levels of hockey sticks: the Standard and the Slap Shot. The total...

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