Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Santiago Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 74,000 units of product were as follows: Direct materials Direct labor Standard Costs Factory overhead 222,000 lbs. at $5.90 per lb. 18,500 hrs. at $16.80 per hr. Rates per direct labor hr., based on 100% of normal capacity of 19,310 direct labor hrs.: Variable cost, $4.50 Fixed cost, $7.10 Each unit requires 0.25 hour of direct labor. Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance Direct Materials Quantity Variance Total Direct Materials Cost Variance b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance c. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. $ Actual Costs $ 219,800 lbs. at $5.80 per lb. 18,930 hrs. at $17.20 per hr. $82,420 variable cost $137,101 fixed cost

Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Santiogo Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 74,000 units of product were as follows: Required: a. Determine the direct materials price variance, Jdirect materials quantity variance, and total direct materials cost variance Enter a favorable variance as a negative number using a munus sign and an unfavorable variance os a positive number: b. Determine the direct iabor rate variance, direct labor time variance, and total drect labor cost variance. Enter a favorable variance as a negative number using a minus sign and an untaverable variance as a positive number c. Determine the vanable factory overheod controlable vanance, fixed factory overhead volume variance, and total factory overhead coat vanance. Enter a fevorable variance as a negative number using a munus sign and an unfavorable variance as a positive number, c. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfovorable variance as a positive number. Variable factory overhead controllable variance Fixed factory overhend volume variance Total factory overhead cost variance Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis Santiogo Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 74,000 units of product were as follows: Required: a. Determine the direct materials price variance, Jdirect materials quantity variance, and total direct materials cost variance Enter a favorable variance as a negative number using a munus sign and an unfavorable variance os a positive number: b. Determine the direct iabor rate variance, direct labor time variance, and total drect labor cost variance. Enter a favorable variance as a negative number using a minus sign and an untaverable variance as a positive number c. Determine the vanable factory overheod controlable vanance, fixed factory overhead volume variance, and total factory overhead coat vanance. Enter a fevorable variance as a negative number using a munus sign and an unfavorable variance as a positive number, c. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfovorable variance as a positive number. Variable factory overhead controllable variance Fixed factory overhend volume variance Total factory overhead cost variance