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Bramble Company has developed the following standard costs for its product for 2022 : The company expected to produce 32,500 units of Product A in
Bramble Company has developed the following standard costs for its product for 2022 : The company expected to produce 32,500 units of Product A in 2022 using 97,500 direct labor hours. Actual results for 2022 are as follows: - 33,510 units of Product A were produced. - Actual direct labor costs were $807,700 for 98,500 direct labor hours worked. - Actual direct materials purchased and used during the year cost $380,875 for 138,500 pounds. - Actual variable overhead incurred was $169,000 and actual fixed overhead incurred was $221,000 Compute the following variances showing all computations to support your answers. Indicate whether the variances are favorable or unfavorable. (a) Materials Quantity Variance (b) Total Direct Labor Variance $ (c) Direct Labor Quantity Variance \$ (d) Direct Materials Price Variance \$ (e) Total Overhead Variance
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