Matthew Hopkins is a cost accountant and business analyst for Dayton Design Company (DDC), which manufactures expensive brass doorknobs. DDC uses two direct-cost categories: direct materials and direct manufacturing labor. Hopkins feels that manufacturing overhead is most closely related to material usage. Therefore, DDC allocates manufacturing overhead to production based upon pounds of materials used. (Click the icon to view the standards.) (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. Actual Input Qty. x Budgeted Price Data table Direct materials Actual Costs Incurred Purchases Requirements Usage Flexible Budget At the beginning of 2020, DDC budgeted annual production of 430,000 doorknobs and adopted the following standards for each doorknob: Input Cost/Doorknob Direct materials (brass) 0.3 lb. at $9/lb. $ 2.70 1.2 hours at $15/hour 18.00 $6/lb x 0.3 lb. $14/lb. x 0.3 lb. 1.80 4.20 $ 26.70 1. For the month of April, compute the following variances, indicating whether each is favorable (F) or unfavorable (U). a. Direct materials price variance (based on purchases) b. Direct materials efficiency variance c. Direct manufacturing labor price variance d. Direct manufacturing labor efficiency variance e. Variable manufacturing overhead spending variance f. Variable manufacturing overhead efficiency variance g. Production-volume variance h. Fixed manufacturing overhead spending variance 2. Can Hopkins use any of the variances to help explain any of the other variances? Give examples. Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Standard cost per doorknob Data table Actual results for April 2020 were as follows: Production Direct materials purchased 32,000 doorknobs 12,300 lb. at $11/lb. Print Done Direct materials used Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead 7,000 lbs. 29,500 hours for $619,500 $64,600 $155,000