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Rundle Manufacturing Company produces a component part of a top secret military communication device. cost data for the part, Product X, follow Standard production and Planned production Per unit direct materials Per unit direct labor Total estimated fixed overhead costs 27,800 units 3.28 pounds $1.60 per pound 2.98 hours $8.68 per hour ped $684,886e pounds of material at an average cost of $1.65 per pound. Labor usage amounted to 77.760 hours average of $8.70 per hour. Actual production amounted to 28,000 units. Actual fixed overhead costs amounted to $641,800. The ook company completed and sold all inventory for $1,920,000 Required a. Prepare a material Is variance information table showing the standard price, the actual price, the standard quantity, and the actual quantity Calculate the materials price and usage variances. Indicate whether the variances are favorable (F) or unfavorable (U) c. Prepare a labor variance information table showing the standard price, the actual price, the standard hours and the actual hours d. Calculate the labor price and usage variances. Indicate whether the variances are favorable or unfavorable (U). e. Calculate the predetermined overhead rate, assuming that Rundle uses the number of units as the allocation base f. Calculate the fixed cost spending and volume variances and indicate whether they are favorable (F) or unfavorable (U). g. Determine the amount of gross margin Rundle would report on the year-end income statement

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