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2. Thompson Company uses a standard cost system for its single product. The following data are available: Actual experience for the current year: Purchases of

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2. Thompson Company uses a standard cost system for its single product. The following data are available: Actual experience for the current year: Purchases of raw materials (15,000 yards at $13.00 per yard) Raw materials used Direct labor costs (10.200 hour 510.00 per hour) Actual variable overhead cost L'uits produced Standards per unit of product: $195,000 12,000 yards $100,000 $84,150 12,600 wita Raw materials 11 yards at $15.00 per yard Direct labor 0.8 hours at $9.50 per hour Variable overhead SK 00 per direct lahor hour Compute the following variances for raw materials, direct labor, and variable overhead, assuming that the price variance for materials is recognized at point of purchase: a. Direct materials price variance, b. Direct materials quantity variance. c. Direct labor rate variance. d. Direct labor efficiency variance e. Variable overhead rate variance, f. Variable overhead efficiency variance

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