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Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on
Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Standard Quantity or Hours per Unit of Output Standard Price or Rate uts Direct materials Direct labor Variable manufacturing 9.7 0.4 ounces S 7.80per ounce hours S 38.70per hour hours S 6.10per hour overhead 0.40 The company has reported the following actual results for the product for April 7300units 49,900ounces Actual output Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor cost Actual variable overhead cost $ 372,350 70,840ounces 2610hours 105,800 S 14,941 Required: Enter all numbers as positive and rounded to the nearest dolla Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance ariable overhead rate variance Variable overhead efficiency variance
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