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2. (10 points) Lido Company's standard and actual costs per unit for the most recent period, during which 400 units were actually produced, are
2. (10 points) Lido Company's standard and actual costs per unit for the most recent period, during which 400 units were actually produced, are given below: Standard Actual Materials: Standard: 2 foot at $1.50 per foot $3.00 Actual: 2.1 foot at $1.60 per foot $3.36 Direct labor: Standard: 1.5 hours at $6.00 per hour 9.00 Actual: 1.4 hours at $6.50 per hour 9.10 Variable overhead: Standard: 1.5 hours at $3.40 per hour 5.10 Actual: 1.4 hours at $3.10 per hour Total unit cost 4.34 $17.10 $16.80 From the foregoing information, compute the following variances. Show whether the variance is favorable (F) or unfavorable (U): a. (2.5 points) Materials price variance. b. (2.5 points) Direct labor efficiency variance. c. (2.5 points) Variable overhead rate variance. d. (2.5 points) Variable overhead efficiency variance.
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