8. Tin Factory manufactures metal sheets. It produced 6,000 metal sheets. Details provided are as follows:...

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8. Tin Factory manufactures metal sheets. It produced 6,000 metal sheets. Details provided are as follows: Standard direct materials required per unit is 2 kg at standard cost of $2.00 per kg. The direct labor worked a total of 18,200 hrs at total wages of $136,500. The direct material purchased and used during the month were 11,500kg at a total cost of $24,150. Budgeted machine hour per unit is 3 hours. Standard variable overhead rate is $4.90 per machine hour. Budgeted units were 5,800 units. Standard fixed overhead rate is $5.00 per machine hour. The actual variable overhead incurred were $72,000 and actual fixed overhead was $120,000. Standard direct labor required per unit is 3 hrs at standard rate of $7 per hour. Actual machine hour used during month was 15,000 hours. Overheads are allocated on the basis on machine hour Required: Calculate the following variances: a. b. C. d. Direct material price, quantity and total variances Direct labor price, quantity and total variances Variable overhead spending, efficiency and total variances Fixed overhead budget variance & volume variance 8. Tin Factory manufactures metal sheets. It produced 6,000 metal sheets. Details provided are as follows: Standard direct materials required per unit is 2 kg at standard cost of $2.00 per kg. The direct labor worked a total of 18,200 hrs at total wages of $136,500. The direct material purchased and used during the month were 11,500kg at a total cost of $24,150. Budgeted machine hour per unit is 3 hours. Standard variable overhead rate is $4.90 per machine hour. Budgeted units were 5,800 units. Standard fixed overhead rate is $5.00 per machine hour. The actual variable overhead incurred were $72,000 and actual fixed overhead was $120,000. Standard direct labor required per unit is 3 hrs at standard rate of $7 per hour. Actual machine hour used during month was 15,000 hours. Overheads are allocated on the basis on machine hour Required: Calculate the following variances: a. b. C. d. Direct material price, quantity and total variances Direct labor price, quantity and total variances Variable overhead spending, efficiency and total variances Fixed overhead budget variance & volume variance