Calculate Direct Materials Purchase Price Variance

Direct Materials Quantity Variance

Direct Labor Price Variance

Direct Labor Efficiency Variance

Variable Overhead Spending Variance

Variable Overhead Efficiency Variance

Fixed Overhead Budget Variance

Choose whether Favorable or Unfavorable for each

Cameron Company manufactures a single product and uses a standard-cost system. Standard Costs include the following: Direct Material 4 lbs @ $5 per lb $20.00 Direct Labor 3 hrs. per unit @ $5 per hour 15.00 Variable Overhead 3 hrs. @ $3 per direct labor hour 9.00 $ 84,000/12,000 units 7.00 Fixed Overhead Standard Costs per Unit 51.00 Cameron had budgeted production of 12,000 units for 2020. Actual results were as follows: 15,000 units were produced and sold Direct labor costs were $228,800 for 44,000 hours Direct material purchased, 66,000 pounds for $273,900 Direct material used in production, 62,000 pounds Total actual manufacturing-overhead costs incurred, $213,000, of which $70,000 were fixed-overhead costs. Please make sure to indicated if the variance is favorable (F) or unfavorable (U)