Required Information The following Information applies to the questions displayed below Preble Company manufactures one...
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Required Information The following Information applies to the questions displayed below Preble Company manufactures one product Its variable manufacturting overhead is applied to production based on direct labor-hours and Its standard cost card per unlt Is as follows: Direct materials: 5 pounds at $8.00 per pound $40.00 Direct labor: 2 hours at $14 per hour Variable overhead: 2 hours at $5 per hour Total standard cost per unit 28.00 10.00 $78.00 The planning budget for March was based on producing and selling 25,000 units. However. during March the company actually produced and sold 30,000 units and Incurred the following costs raw matertals at a cost of $7.50 per pound. All of this matertal was used in production. a. Purchased 160,000 b. Direct laborers worked 55,000 hours at a rate of $15.00 per hour C. Total variable manufacturing overhead for the month was $280,500. 1.What is the labor spending varlance for March? (Indicate the effect of each variance by selecting "F" for unfavorable, and "None" for no effect (l.e., zero varlance.). Input all amounts as positive values.) varance
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