Part D Note: This section is a continuation from Parts A, B, and C of the comprehensive problem. Be sure you have completed Parts A, B, and C before attempting Part D. You may have to refer back to data presented in Parts A, B, and C as well as use answers from those parts when completing this section. Part D - August Variance Analysis During September of the current year, the controller was asked to perform variance analyses for August. The January operating data provided the standard prices, rates, times, and quantities per case. There were 1,200 cases produced during August, which was 50 more cases than planned at the beginning of the month. Actual data for August were as follows: Actual Direct Materials Price per Case Actual Direct Materials Quantity per Case Cream base $1.00 (for 72 ozs.) 75 ozs. Natural Oils $6.20 (for 24 ozs.) 25 ozs. Bottle (8-oz.) $4.50 (for 12 bottles) 12.2 bottles Actual Direct Labor Rate Actual Direct Labor Time per Case Mixing $ 15.25 16.50 min. Filling $ 11.50 4.50 min. Actual variable overhead $ 125 Normal volume 1,500 cases The prices of the materials were different than standard due to fluctuations in the market prices. Specifically, the prices of the cream base and bottles were below the standard price, while the price of natural oils was above the standard price. The Mixing Department used a higher grade labor classification during the month, thus causing the actual labor rate to exceed standard. The Filling department used a lower grade labor classification during the month, thus causing the actual labor rate to be less than standard. 13. Determine and interpret the direct materials price and quantity variances for the three materials. Enter the costs in dollars and cents. Direct Materials Price Variance Cream Base Natural Oils Bottles Actual price $ This question is unanswered $ This question is unanswered $ This question is unanswered Standard price $ This question is unanswered $ This question is unanswered $ This question is unanswered Difference $ This question is unanswered $ This question is unanswered $ This question is unanswered Actual quantity (in cases) This question is unanswered This question is unanswered This question is unanswered Direct material price variance $ This question is unanswered $ This question is unanswered $ This question is unanswered Indicate if favorable or unfavorable This question is unanswered This question is unanswered This question is unanswered Enter the standard price as dollar and cents but carry your answer to three decimals places. For example, $1.3458 would be entered as 1.346. Direct Materials Quantity Variance Cream Base Natural Oils Bottles Actual quantity (ozs.) This question is unanswered This question is unanswered This question is unanswered Standard quantity (ozs.) This question is unanswered This question is unanswered This question is unanswered Difference This question is unanswered This question is unanswered This question is unanswered Standard price $ This question is unanswered $ This question is unanswered $ This question is unanswered Direct material quantity variance $ This question is unanswered $ This question is unanswered $ This question is unanswered Indicate if favorable or unfavorable This question is unanswered This question is unanswered This question is unanswered Interpret your results. The input in the box below will not be graded, but may be reviewed and considered by your instructor. 14. Determine and interpret the direct labor rate and time variances for the two departments. Enter your answers to two decimal places. Direct Labor Rate Variance Mixing Department Filling Department Actual rate $ This question is unanswered $ This question is unanswered Standard rate $ This question is unanswered $ This question is unanswered Difference $ This question is unanswered $ This question is unanswered Actual time (in hours) This question is unanswered This question is unanswered Direct labor rate variance $ This question is unanswered $ This question is unanswered Indicate if favorable or unfavorable This question is unanswered This question is unanswered Direct Labor Time Variance Mixing Department Filling Department Actual time (in hours) This question is unanswered This question is unanswered Standard time (in hours) This question is unanswered This question is unanswered Difference This question is unanswered This question is unanswered Standard rate $ This question is unanswered $ This question is unanswered Direct labor time variance $ This question is unanswered $ This question is unanswered Indicate if favorable or unfavorable This question is unanswered This question is unanswered Interpret your results. The input in the box below will not be graded, but may be reviewed and considered by your instructor. 15. Determine and interpret the factory overhead controllable variance. Actual variable overhead $ This question is unanswered Variable overhead at standard cost $ This question is unanswered Factory overhead controllable variance $ This question is unanswered Indicate if favorable or unfavorable This question is unanswered Interpret your results. The input in the box below will not be graded, but may be reviewed and considered by your instructor. 16. Determine and interpret the factory overhead volume variance. When determining the fixed factory overhead rate, carry your answer to three decimal places. For example, 5.2786 would be entered as 5.279. Normal volume (cases) This question is unanswered Actual volume (cases) This question is unanswered Difference This question is unanswered Fixed factory overhead rate $ This question is unanswered Factory overhead volume variance $ This question is unanswered Indicate if favorable or unfavorable This question is unanswered Interpret your results. The input in the box below will not be graded, but may be reviewed and considered by your instructor. 17. Why are there standard direct labor and direct materials costs in the calculations for parts (13) and (14) based on the actual 1,200-case production volume rather than the planned 1,150 cases of production used in the budgets for parts (9) and (10)? Interpret your results. The input in the box below will not be graded, but may be reviewed and considered by your instructor.