Steven Roberts is a cost accountant and business analyst for Dapper Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct...

Extracted text: Steven Roberts is a cost accountant and business analyst for Dapper Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Roberts feels that manufacturing overhead is most closely related to material usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used. E (Click the icon to view the standards.) E (Click the icon to view the actual results for April.) Read the requirements. Requirement 1. For the month of April, compute the variances, indicating whether each is favorable (F) or unfavorable (U). Before computing the variances complete the tables below. Begin by completing the table for direct materials. Data Table Actual Input Qty. × Budgeted Price Actual Costs Flexible At the beginning of 2017, DDC budgeted annual production of 450,000 doorknobs and adopted the following standards for each doorknob: Incurred Purchases Usage Budget Data Table Direct materials 146,400 $ 134,200 $ 82,500 92,400 Input Cost/Doorknob a. Direct materials price variance (based on purchases) is 2$ 12,200 U Direct materials (brass) 0.3 lb. @ $11/Ib. $ 3.30 Actual results for April 2017 were as follows: Direct manufacturing labor 1.2 hours @ $19/hour 22.80 b. The direct materials efficiency variance is Production 28,000 doorknobs Variable manufacturing overhead $6/lb x 0.3 lb. 1.80 Direct materials purchased 12,200 lb. at $12/lb. 4.20 Fixed manufacturing overhead $14/lb. x 0.3 lb. Direct materials used 7,500 lbs. $ 32.10 Standard cost per doorknob Direct manufacturing labor 29,500 hours for $649,000 Variable manufacturing overhead $64,200 Print Done Fixed manufacturing overhead $161,000 Print Done Choose from any list or enter any number in the input fields and then click Check Answer.