3. The standard direct labor cost per unit for a company was $33 (= $22 per hour 1.5 hours per unit). During the period, actual direct labor costs amounted to $222,500, 10,000 labor-hours were worked, and 6,000 units were produced.

Required:

Compute the direct labor price and efficiency variances for the period. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

Price variance	?	F or U
Efficiency variance	?	F or U

4. Information on Carney Company's fixed overhead costs follows:

Overhead applied	$	362,600
Actual overhead		389,400
Budgeted overhead		375,500

Required:

What are the fixed overhead price and production volume variances? (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

Fixed overhead price variance	?	F or U
Fixed overhead production volume variance	?	F or U