4 Dillard, Incorporated, has developed the following standard cost data based on a denominator volume of 60,000 direct labor hours (DLHS). Budgeted fixed overhead is $360,000 and budgeted variable overhead is $180,000 at this level of activity. 18 points 3.0 $ 2.00 $ 6.00 Skipped Direct material (DM) : Standard pounds per unit of output Standard cost per pound of material Standard DM cost per unit of output Direct labor (DL): Standard DLHS per unit of output Standard wage rate (price) per DLH Standard DL cost per unit of output Factory overhead Standard DLH per unit Standard overhead application rate per DLH Standard overhead cost per unit of output Total standard cost per unit produced 0.5 $ 8.00 $ 4.00 eBook References 0.50 $ 9.00 $ 4.50 $ 14.50 During the most recent period, the company used 48,000 DLHs to produce 128,000 units. Additional actual results for the period include the following: 4 380,000 $ 779,000 Direct material: Pounds of materials used Total cost of materials used Direct labor: Number of DLHS worked Total labor cost incurred Variable overhead Fixed overhead 18 points 63,000 $ 507,150 $ 220,000 $ 365,000 Skipped eBook Required: Determine all variances for direct materials, direct labor, and factory overhead. Use a 4-variance breakdown (decomposition) of the total overhead variance for the period. Assume that the direct materials price variance is calculated at point of production, not point of purchase. Note: this problem requires knowledge from Chapter 14. References