Factory Overhead Cost Variances Thomas Textiles Corporation began November with a budget for 29,000 hours of production in the Weaving Department. The department has a full capacity of 39,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of November was as follows: Variable overhead $52,200 Fixed overhead 35,100 Total $87,300 The actual factory overhead was $88,300 for November. The actual fixed factory overhead was as budgeted. During November, the Weaving Department had standard hours at actual production volume of 30,000 hours. Determine the variable factory overhead controllable variance and the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number Round your interim computations to the nearest cent, if required. a. Variable factory overhead controllable variance: $ b. Fixed factory overhead volume variance: $ Direct Materials and Direct Labor Variances At the beginning of June, Bezco Toy Company budgeted 23,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials $48,300 Direct labor 13,800 Total $62,100 The standard materials price is $0.70 per pound. The standard direct labor rate is $12.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: Actual direct materials $43,700 Actual direct labor 12,500 Total $56,200 There were no direct materials price or direct labor rate variances for June. In addition, assume no changes in the direct materials inventory balances in June. Bezco Toy Company actually produced 20,200 units during June. Determine the direct materials quantity and direct labor time variances. Round your per unit computations to two decimal places and round your answers to the nearest dollar, if required. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct materials quantity variance Direct labor time variance Check My Work 1 more Check My Work uses remaining. Previous Next >