Equivalent Units of Production. Klein Products had $300$ units in beginning WIP inventory.

During the period $600$ units were started into production, and $400$ were completed and

transferred out. $500$ units were partially completed in Ending Work In Process. These $500$ units

were $90\%$ complete for Assembly and $70\%$ complete for Packaging. Cost of beginning WIP

inventory were $$4,000$ for Assembly and $$8,000$ for Packaging. Costs incurred during the period

were $$9,000$ for Assembly and $$7,000$ for Packaging.

Homework Problem #$4$: Showing the formulas and computations, calculate the following

variances:

a$)$ Materials Quantity Variance

b$)$ Materials Price Variance

c$)$ Materials spending Variance

d$)$ Labor Rate Variance

e$)$ Labor Efficiency Variance

f$)$ Labor spending Variance

g$)$ Variable overhead Rate Variance

h$)$ Variable Overhead Efficiency Variance

i$)$ Variable Overhead spending variance