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Data Table Budgeted Amounts 4,500 Actual Amounts 5.300 $ 84,080 $ 78,480 4,905 5.255 $ 47 476 49.500 Magellan XS units produced Navigation systems cost Navigation systems Polarized glass cost Sheets of polarized glass used Plastic casing cost Ounces of specialty plastic used Direct manufacturing labor costs Direct manufacturing labor-hours 900 913 $ 31,119 $ 29.700 4.950 5 66.150 3.150 5.230 $ 68.373 3.210 Print Done Requirement 1. Compute the price and efficiency variances for the three categories of direct materials and for direct manufacturing labor in Je Begin by calculating the the price and efficiency variances for the each category of direct materials. (Do not round intermediary calculations. Re variance as favorable (F) or unfavorable (U) For variances with a 50 balance, make sure to enter "0" in the appropriate field. If the variance is a Actual Price Actual Input Qty Efficiency Flexible Costs Incurred Variance Budgeted Price Variance Budget July 2017 Navigation systems eri Requirements c X 1. 2. ead 30 lla! 3. AL Compute the price and efficiency variances for the three categories of direct materials and for direct manufacturing labor in July 2017 Describe the types of actions the employees at the Savannah plant may have taken to reduce the accuracy of the standards set by the outside consultant. Why would employees take those actions? Is this behavior ethical? If Warner does nothing about the standard costs will his behavior violate any of the standards of ethical conduct for practitioners described in the IMA Statement of Ethical Professional Practice? What actions should Warner take? Warner can obtain benchmarking information about the estimated costs of Santoro's competitors such as Garmin and Tom Tom from the Competitive Intelligence Institute (Cl). Discuss the pros and cons of using the CII information to compute the variances in requirement 1. 4

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