Dresco, Incorporated is analyzing its most current results against the budget.

Here is the standard cost information:

Standard Cost per Direct Material$/$Hour Standard Quantity$/$Hours per Unit Standard Cost per Unit

Direct Materials $$7\mathrm{.}502\mathrm{.}5$ $$18\mathrm{.}75$

Direct Labor $$19\mathrm{.}002$ $$38\mathrm{.}00$

Variable Overhead $$6\mathrm{.}502$ $$13\mathrm{.}00$

Planned production $($units$)10,000$

Actual cost information is below:

Units Produced $9,500$

Materials Purchased and Used $27,500$

Cost of Direct Materials $$181,000$

Direct Labor Hours $18,500$

Direct Labor Cost $$406,000$

Variable Overhead Cost $$115,000$

Fixed Overhead Cost $$325,000$

Required:

Calculate the Materials Price, Quantity, and Spending Variance.

Calculate the Direct Labor Rate, Efficiency, and Spending Variance.

Calculate the Variable Overhead Rate, Efficiency, and Spending Variance.

Hint: Use the ABS$()$ function to calculate amounts.

Direct Materials Variances

Actual $\backslash$times Actual Actual $\backslash$times Standard Standard $\backslash$times Standard

AQ AP AQ SP SQ SP

Direct Labor Variances

Actual $\backslash$times Actual Actual $\backslash$times Standard Standard $\backslash$times Standard

AH AR AH SR SH SR

Variable Overhead Variances

Actual $\backslash$times Actual Actual $\backslash$times Standard Standard $\backslash$times Standard

AH AR AH SR SH SR