Crane Corporation accumulates the following data relative to jobs started and finished during the month of June 2022.

Costs and Production Data		Actual		Standard
Raw materials unit cost		$2.20		$2
Raw materials units		11,200		10,400
Direct labor payroll		$169,500		$161,120
Direct labor hours		15,000		15,200
Manufacturing overhead incurred		$214,452
Manufacturing overhead applied				$216,752
Machine hours expected to be used at normal capacity				41,500
Budgeted fixed overhead for June				$62,250
Variable overhead rate per machine hour				$3.10
Fixed overhead rate per machine hour				$1.50

Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sold for $458,000. Selling and administrative expenses were $35,700. Assume that the amount of raw materials purchased equaled the amount used.

(a)

Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.)

(1)		Total materials variance		$enter a dollar amount		select an option FavorableUnfavorableNeither favorable nor unfavorable
		Materials price variance		$enter a dollar amount		select an option FavorableUnfavorableNeither favorable nor unfavorable
		Materials quantity variance		$enter a dollar amount		select an option FavorableUnfavorableNeither favorable nor unfavorable
(2)		Total labor variance		$enter a dollar amount		select an option FavorableUnfavorableNeither favorable nor unfavorable
		Labor price variance		$enter a dollar amount		select an option FavorableUnfavorableNeither favorable nor unfavorable
		Labor quantity variance		$enter a dollar amount		select an option FavorableUnfavorableNeither favorable nor unfavorable

(b)	Compute the total overhead variance.

(c) Prepare an income statement for management. (Ignore income taxes.)

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