4. What was the materials price variance for March if there were no beginning or ending inventories of materials? (Input all amounts as positive values. Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Materials price variance Materials quantity variance Spending variance 5. What is the standard direct labor rate per hour? Standard variable manufacturing overhead cost for March Standard variable manufacturing overhead rate per direct labor- hour Standard direct labor-hours for March Standard direct labor cost for March Standard direct labor rate per hour

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Chapter1: Financial Statements And Business Decisions
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I need assistance solving questions 4 and 5 (second screen shot only.) Thank you

4. What was the materials price variance for March if there were no beginning or ending inventories of
materials? (Input all amounts as positive values. Do not round intermediate calculations. Indicate
the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no
effect (i.e., zero variance).)
Materials price variance
Materials quantity variance
Spending variance
5. What is the standard direct labor rate per hour?
Standard variable manufacturing overhead cost for March
Standard variable manufacturing overhead rate per direct labor-
hour
Standard direct labor-hours for March
Standard direct labor cost for March
Standard direct labor rate per hour
Transcribed Image Text:4. What was the materials price variance for March if there were no beginning or ending inventories of materials? (Input all amounts as positive values. Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Materials price variance Materials quantity variance Spending variance 5. What is the standard direct labor rate per hour? Standard variable manufacturing overhead cost for March Standard variable manufacturing overhead rate per direct labor- hour Standard direct labor-hours for March Standard direct labor cost for March Standard direct labor rate per hour
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