For the hint, the total of all the variances should be: $24.54 - 24.48 = $.06 * 4,800 = TOTAL VARIANCE = $288 UNFAVORABLE The six variances are: 5,280 - 6,912 - 2,352 + 4,320 - 2,352 + 1,728 = -288 Note how they add up to the total variance Vermont Mills produces clothing. The standard and actual costs for the month of January when 4,800 units were produced are shown below: Standard Cost Actual Cost $ 14.40 $ 14.74 7.20 Direct materials Standard: 4.0 yards at $3.60 per yard Actual: 4.4 yards at $3.35 per yard Direct labor: Standard: 1.6 hours at $4.50 per hour Actual: 1.4 hours at $4.85 per hour Variable manufacturing overhead Standard: 1.6 hours at 1.80 per hour Actual 1.4 hours at $2.15 per hour Total cost per unit: 6.79 2.88 3.01 $ 24.48 $ 24.54 Materials Price Variance (show computations) Actual Actual Quantity Price Standard Price Total Variance Favor/ Unfavor. Difference Materials Efficiency Variance (show computations) Standard _ Actual Standard Price Quantity Quantity Total Variance Favor/ Unfavor. Difference Labor Rate Variance (show computations) Actual Actual Quantity Price Standard Price Total Variance Favor! Unfavor. Difference Labor Efficiency Variance (show computations) Standard Actual Price Quantity Standard Quantity Total Variance Favor/ Unfavor. Difference Variable Overhead Rate Variance (show computations) Actual Actual Standard Quantity Price Price Difference Total Variance Favor/ Unfavor. Variable Overhead Efficiency Variance (show computations) Standard Actual Standard Price Quantity Quantity Total Variance Favor/ Unfavor. Difference