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ABC Manufacturing's standard cost card for one unit of product includes: Direct materials $45, Direct labor (7 hours at $10 per hour), and Factory overhead
ABC Manufacturing's standard cost card for one unit of product includes: Direct materials $45, Direct labor (7 hours at $10 per hour), and Factory overhead (based on direct labor hours, 7 hours per unit). During May, the company produced 6,000 units, and actual costs were: Direct materials $250,000, Direct labor $300,000, and Factory overhead $350,000. Calculate the total variance and break it down into material, labor, and overhead variances.
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