5.Hartley Companys standard labor cost per unit of output is $23.46 (2.3 hours x $10.20 per hour). During August, the company incurs 2,700 hours of direct labor at an hourly cost of $9.89 per hour in making 1,100 units of finished product. Compute the total, price, and quantity labor variances.

8.Journalize the following transactions for Combs Company.

A. Purchasws 6,360 units of raw material on account for $11,990. The standard cost was $12,720.

B. Issued 6,150 units of raw materials for production. The standard units were 6,260.

9.Journalize the following transactions for Dewey Inc.

A. Incurred direct labor costs of $23,100 for 4,860 hours. The standard labor cost was $24,737.

B. Assigned 4,860 direct labor hours costing $23,100 to production. Standard hours were 4,990.

10.Shannon Company is planning to produce1,600units of product in 2014. Each unit requires3.20pounds of materials at $4.90per pound and a half-hour of labor at $12.20per hour. The overhead rate is80% of direct labor. (a) Compute the budgeted amounts for 2014 for direct materials to be used, direct labor, and applied overhead.

(b) Compute the standard cost of one unit of product. (Round answer to 2 decimal places, e.g. 2.75.)

12.Fisk Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances.

Materials price variance	$1,324	U	Labor quantity variance	$775	U
Materials quantity variance	784	F	Overhead variance	801	U
Labor price variance	545	U

In addition,8,366units of product were sold at $7per unit. Each unit sold had a standard cost of $4. Selling and administrative expenses were $7,100for the month. Prepare an income statement for management for the month ended January 31, 2014. 14.Costello Corporation manufactures a single product. The standard cost per unit of product is shown below.

Direct materials2pound plastic at $7.11per pound	$14.22
Direct labor2.50hours at $12.00per hour	30.00
Variable manufacturing overhead	15.00
Fixed manufacturing overhead	25.00
Total standard cost per unit	$84.22

The predetermined manufacturing overhead rate is $16per direct labor hour ($40.002.50). It was computed from a master manufacturing overhead budget based on normal production of13,000direct labor hours (5,200units) for the month. The master budget showed total variable costs of $78,000($6.00per hour) and total fixed overhead costs of $130,000($10.00per hour). Actual costs for October in producing4,600units were as follows.

Direct materials (9,380pounds)	$67,817
Direct labor (11,320hours)	139,236
Variable overhead	139,102
Fixed overhead	46,878
Total manufacturing costs	$393,033

The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. (a) Compute all of the materials and labor variances. (Round answers to 0 decimal places, e.g. 125.)

Total materials variance

$

Materials price variance	$
Materials quantity variance	$
Total labor variance	$
Labor price variance	$
Labor quantity variance	$

(b) Compute the total overhead variance.

Total overhead variance

$