Standard versus actual costs For each of the following two jobs manufactur¬

ing two different products, determine the missing amounts for items

(a) through (h).(LO 1)

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ITEM Units produced JOB 321 JOB 322 200 (e) Standards per unit Material quantity 5 lb (f) Material price Labor hours $2 per lb $3 per lb 2 hr 3 hr Labor rate $15 per hr $12 per hr Actual consumption Material quantity (a) 1000 lb Material cost $2000 (g) Labor hours (b) (h) Labor cost (c) $5800 Variance Material use Material price (d) $100 F $ 50 U $500 F Labor hour Labor rate $100 F $ 60 U $ 50 U $200 F