(d) If the labour quantity variance was $7,200 unfavourable, what were the actual direct labour hours worked? (e) If the labour price variance was $9,080 favourable, what was the actual rate per hour? (0) If total budgeted manufacturing overhead was $360,000 at normal capacity, what was the predetermined overhead rate? (g) What was the standard cost per unit of product? (h) How much overhead was applied to production during the year? (i) Using selected answers above, what were the total costs assigned to work in process? P12-47A Hi-Tek Labs performs steroid testing services for colleges and universities. Because the company works only with educational institutions, the price of each test is strictly regulated. Therefore, the costs incurred must be carefully monitored and controlled. Shown below are the standard costs for a typical test: Direct materials (1 Petri dish at $1.80 per dish) Direct labour (0.5 hours at $20.50 per hour) Variable overhead (0.5 hours at $8 per hour) Fixed overhead (0.5 hours at $5 per hour) Total standard cost per test $ 1.80 10.25 4.00 2.50 The lab does not maintain an inventory of Petri dishes. Therefore, the dishes purchased each month are used that month. Actual activity for the month of May 2016, when 2,500 tests were conducted, resulted in the following: Direct materials (2,530 dishes) Direct labour (1,240 hours) Variable overhead Fixed overhead s 5,060 26,040 10,100 5,700 Monthly budgeted fixed overhead is $6,000. Revenues for the month were $55,000, and selling and administrative expenses were $2,000 Instructions (a) Calculate the price and quantity variances for direct materials and direct labour. (b) Calculate the total overhead variance. (c) Prepare an income statement for management. (d) 01 E> Provide possible explanations for each unfavourable variance. P12-48A Pointe Claire Company applies overhead based on direct labour hours. Two direct labour hours are required for each unit of product. Planned production for the period was set at 9,000 units. Manufacturing overhead is budgeted at $135,000