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Question & Answer: RoadRunner, Inc. manufactures custom-ordered diploma frames. Its standard cost information follow…..

RoadRunner, Inc. manufactures custom-ordered diploma frames. Its standard cost information follows: Standard Quantity Standard Price (Rate Standard Unit Cost S1.50 per foot $10.00 per hour $2.00 per hour Direct Materials (Wood) Direct Labor 3.0 linear feet 1.5 hours 1.5 hours $4.50 $15.00 $3.00 ariable manufacturing overhead (based on DL hours) Fixed manufacturing overhead ($100,000 10,000 units) The company had the following actual results for the last year: Number of units produced and sold Number of linear feet of wood used Cost of wood (per foot) Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 11,000 31,900 $51,040 15,950 $164,285 $33,495 $95,000 Required 1(a) (2 points) What is the companys Direct Materials Price Variance? 1(b) (2 points) What is the companys Direct Materials Quantity Variance? 2(a) (2 points) What is the companys Direct Labor Rate Variance? 2(b) (2 points) What is the companys Direct Labor Efficiency Variance? 3 (3 points) Write a brief paragraph (approximately 5 sentences) that interprets the results you observe for the Direct Labor variances. Explain your observations as if you were address your boss and interpret your findings for him/her. What might have occurred at the company that would cause such results? Your response should be typed as part of your answer, use proper English, grammar, spelling, etc.

RoadRunner, Inc. manufactures custom-ordered diploma frames. Its standard cost information follows: The company had the following actual results for the last year: (a) What is the company’s Direct Materials Price Variance? (b) What is the company’s Direct Materials Quantity Variance? (a) What is the company’s Direct Labor Rate Variance? (b) What is the company’s Direct Labor Efficiency Variance? Write a brief paragraph (approximately 5 sentences) that interprets the results you observe for the Direct Labor variances. Explain your observations as if you were address your boss and interpret your findings for him/her. What might have occurred at the company that would cause such results? Your response should be typed as part of your answer, use proper English, grammar, spelling, etc.

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