# Flandro company uses a standard cost system and sets predetermined

Flandro Company uses a standard cost system and sets predetermined overhead rates on the basis of direct labor-hours. The following data are taken from the company’s budget for the current year:

Denominator activity (direct labor-hours) 12,800

The standard cost card for the company’s only product is given below:

Direct materials, 3 yards at \$3.40 per yard \$10.20
Direct labor, 2 hour at \$11 per hour 22.00
Manufacturing overhead, 133.64% of direct labor cost 29.40
Standard cost per unit
\$61.60

During the year, the company produced 4,800 units of product and incurred the following costs:

Materials purchased, 36,000 yards at \$3.30 per yard \$118,800
Materials used in production (in yards) 25,000
Direct labor cost incurred, 13,000 hours at \$8.4 per hour \$109,200
Variable manufacturing overhead cost incurred \$34,600
Fixed manufacturing overhead cost incurred \$33,800

Requirement 1:
Redo the standard cost card in a clearer, more usable format by detailing the variable and fixed overhead cost elements. (Round your answers to 2 decimal places. Omit the “\$” sign in your response.)

Direct materials \$
Direct labor
Standard cost per unit

Requirement 2:
Prepare an analysis of the variances for direct materials and direct labor for the year. (Input all amounts as positive values. Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Omit the “\$” sign in your response.)

Materials variances:
Price Variance \$
Quantity Variance \$
Labor variances:
Rate Variance \$
Efficiency Variance \$

Requirement 3:
Prepare an analysis of the variances for variable and fixed overhead for the year. (Input all amounts as positive values. Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Omit the “\$” sign in your response.)

Rate Variance \$
Efficiency Variance \$
Budget variance \$
Volume Variance \$

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