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Variances, Total Overhead Variances, and Variance Reconciliation
Sanchez Company planned to produce 15,000 units of its only product during the year. Sanfhez established the following standard cost data for this product prior to the beginning of the year:
\table[[Direct materials (2.2 Ibs. @ $12.80 per Ib.),Per Unit],[Direct labor (1.7 hrs, @ 23.00 per hr.),39.10],[Varlable overhead (1.7 hrs, @ 10.20 per hr.),17.34],[Total standard cost per unit,$84.60
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