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Complete the grey boxes with the variance amounts and if the variance is favorable or unfavorable. Standard Costs/Quantities Actual Costs/Quantities Materials Cost $2.00 per unit
Complete the grey boxes with the variance amounts and if the variance is favorable or unfavorable. | ||||
Standard Costs/Quantities | Actual Costs/Quantities | |||
Materials Cost | $2.00 | per unit | $1.80 | per unit |
Material Quantity | 585000 | pounds | 640000 | pounds |
Labor Cost | $13.00 | per hour | $15.00 | per hour |
Labor Hours | 21000 | hours | 18900 | hours |
Variable Overhead Rate | $9.75 | per labor hours | $9.35 | per labor hours |
Amount | Favorable/Unfavorable | |||
Materials Price Variance | ||||
Materials Cost Variance | ||||
Labor Rate Variance | ||||
Labor Efficiency Variance | ||||
Variable Overhead Spending | ||||
Variable Overhead Efficiency |
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