Classifying variances as favorable or unfavorable

Required

Indicate whether each of the following variances is favorable or unfavorable. The first one has been done as an example.

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Item to Classify Standard Type of Variance Actual S9.60 per hour 61,800 hours S390,000 $3.16 per unit 42,000 units $3.63 per unit $3.00 per pound 90,000 pounds Favorable S10.00 per hour 61,000 hours Labor cost Labor usage Fixed cost spending Fixed cost per unit (volume) Sales volume Sales price Materials cost Materials usage S400,00 $3.20 per unit 40,000 units $3.60 per unit $2.90 per pound 91,000 pounds