A company has the following standard cost and actual cost information:

	Standard Quantity		Standard Price
Direct materials	1.60	oz	$ 1.70	per oz
Direct labor	1.60	hours	$ 12.00	per hour
Variable manufacturing overhead (based on direct labor hours)	1.60	hours	$ 1.10	per hour
Fixed manufacturing overhead ($450,000.00 150,000.00 units)

Actual Number of units produced and sold	155,000
Actual Number of oz of direct materials purchased and used	278,200
Actual Cost of direct material purchase	$ 445,120
Actual Number of labor hours worked	200,000
Actual Direct labor cost	$ 3,000,000
Actual Variable overhead cost	$ 300,000
Actual Fixed overhead cost	$ 470,000

Required:

Calculate the direct materials price, quantity, and total spending variances. Note: Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).

Direct Materials Price Variance
Direct Materials Quantity Variance
Direct Materials Spending Variance

Required 1

Calculate the direct labor rate, efficiency, and total spending variances. Note: Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).

Direct Labor Rate Variance
Direct Labor Efficiency Variance
Direct Labor Spending Variance