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3. (TCO 5) The Baxter Corporation has the following budgeted and actual results. Budgeted data Actual results Unit sales 25,000 Unit sales 26,000 Unit production 25,000 Unit production 26,500 Fixed overhead Fixed overhead Supervision $20,000 Supervision $19,000 Depreciation $25,000 Depreciation $25,000 Rent $12,500 Rent $12,500 Variable costs per unit Variable costs Direct materials $20.00 Direct materials $530,000 Direct labor $25.00 Direct labor $640,000 Supplies $0.25 Supplies $6,100 Indirect labor $1.25 Indirect labor $30,000 Electricity $0.15 Electricity $4,000 Required: Prepare a performance report for all costs showing flexible budget variances (indicate F or U). 4. (TCO 6) Santa Inc. manufactures toys based on the following information. Standard costs Materials (4 ounces at $5) $20 Direct labor (1 hour per unit) $6 Variable overhead (based on direct labor hours) $4.00 Fixed overhead budget $15,000 Actual results and costs Materials purchased Units 8,000 Cost $39,000 Materials used in production Finished product units 2,100 Raw material (ounces) 8,300 Direct labor hours 2,100 Direct labor cost $12,500 Required: Compute the following variances (show calculations). a. Materials usage variance b. Labor rate variance

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