1. The following information is available for Mexcore Chemical Corporation for this last year:

Budgeted Production: 5,000 units

Standard Direct Labor rate: $12/hour

Standard Direct Labor usage: 5 hours/unit

Standard Direct Materials price: $500/container

Standard Direct Materials usage: 0.25 containers/unit

Standard Variable Overhead rate: $15/direct labor hour

Actual Production: 4,800 units

Actual Direct Labor rate: $13/hour

Actual Direct Labor Usage: 22,000 hours

Actual Direct Materials price: $495/container

Actual Direct Materials usage: 1,200 containers (amounts used and purchased are the same)

Actual Variable Overhead incurred: $400,000

What is the Direct Materials Flexible Budget Variance? (4 points) Standard Cost = Actual Units x Standard Rate x Standard usage Standard Direct Materials Cost: ____ units x ____ containers/unit x $___/container = $_____ Actual Direct Materials Cost: ______ containers x $_____/container = $_______ Flexible Budget Variance (Actual Standard): $_______ - $_______ = $_______ Favorable