Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Materials price variances is calculated on material purchased and materials quantity is based on Material used in production.Variable manufacturing overhead is applied to products on the basis of direct labor-hours.

Inputs

Standard Quantity or Hours per Unit of Output

Standard Price or Rate

Direct materials

8.7

ounces

$

6.80

per ounce

Direct labor

0.6

hours

$

28.70

per hour

Variable manufacturing overhead

0.60

hours

$

5.10

per hour

The company has reported the following actual results for the product for April:

Actual output

6300

units

Raw materials purchased

48,900

ounces

Actual cost of raw materials purchased

$

316,540

Raw materials used in production

54,840

ounces

Actual direct labor-hours

3530

hours

Actual direct labor cost

$

105,850

Actual variable overhead cost

$

17,090

Required:

Enter all numbers as positive and rounded to the nearest dollar

Materials price variance

$

Materials quantity variance

$

Labor rate variance

$

Labor efficiency variance

$

Variable overhead rate variance

$

Variable overhead efficiency variance

$

6 points

• Question6of6