Anderson Company has the following standard cost card for one unit of a particular product:

Direct Materials: 20 kg @ $1.65 $ 33

Direct Labour: 2 hours @ $15 30

Total overhead: 2 hours @ $7 14

$ 77

Fixed overhead was budgeted at $1,920,000 for the year and was based on the production of 40,000 units per month, or 480,000 units per year.

Actual inputs and costs to produce 45,000 units last month are as follows:

Direct materials purchased 1,200,000 kg

Cost of direct materials purchased $ 2,040,000

Direct materials used 920,000 kg

Direct labour hours worked 75,000

Cost of direct labour $ 1,440,000

Variable overhead $ 435,000

Fixed overhead $ 170,000

Cohen Company uses a standard costing system.

Required:

Calculate the following:

a) The direct materials price and quantity variances

c) The variable overhead rate and efficiency variances

d) The fixed overhead budget and volume variances

e) The over- or under-applied overhead for the month

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