5 The following standard costs were developed for one of the products of Xero Company STANDARD COST CARD PER UNIT Materials 2 lbs x $13 per lb Direct labor 4 hours x $10 per hour Variable overhead 4 hours x $8 per hour Fixed overhead 4 hours x $12 per hour S 26 00 40 00 32 00 48 00 $146 00 Total standard cost per unit period The following information is available regarding the company's operations for the Units produced Materials purchased and used Direct labor 9,000 19,000 37,000 Ibs $14 per pound hours costing $351,500 Manufacturing overhead incurred Variable Fixed $277,500 $480,000 Budgeted fixed manufacturing overhead for the period is $480,000, and the standard fixed overhead rate is based on expected capacity of 40,000 direct labor hours The normal capacity is 10,000 units Required a Calculate the direct materials price variance b Calculate the direct materials quantity variance c Calculate the direct labor rate variance d Calculate the direct labor efficiency (time) variance e Calculate the overhead volume variance

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5  The following standard costs were developed for one of the products of Xero Company STANDARD COST CARD PER UNIT Materials  2 lbs  x $13 per lb Direct labor  4 hours x $10 per hour Variable overhead  4 hours x $8 per hour Fixed overhead  4 hours x $12 per hour S 26 00 40 00 32 00 48 00 $146 00 Total standard cost per unit period The following information is available regarding the company's operations for the Units produced  Materials purchased and used Direct labor  9,000 19,000 37,000 Ibs    $14 per pound hours costing $351,500 Manufacturing overhead incurred  Variable Fixed $277,500 $480,000 Budgeted fixed manufacturing overhead for the period is $480,000, and the standard fixed overhead rate is based on expected capacity of 40,000 direct labor hours  The normal capacity is 10,000 units  Required a  Calculate the direct materials price variance  b  Calculate the direct materials quantity variance c  Calculate the direct labor rate variance  d  Calculate the direct labor efficiency (time) variance e  Calculate the overhead volume variance

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5. The following standard costs were developed for one of the products of Xero Company STANDARD COST CARD PER UNIT Materials: 2 lbs. x $13

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