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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

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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. Standard Quantity or Hours per Inputs Unit of Output Standard Price or Rate Direct materials 8.5 ounces $ 6.60per ounce Direct labor 0.6 hours $ 24.80per hour Variable manufacturing overhead 0.60 hours $ 4.90per hour The company has reported the following actual results for the product for April: Enter all numbers as positive and rounded to the nearest dollar Actual output 6100units Raw materials purchased 48,700ounces Actual cost of raw materials purchased $ 303,010 Raw materials used in production 51,860ounces Actual direct labor-hours 3360hours Actual direct labor cost 86,810 Actual variable overhead cost 15,717Required: Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance Variable overhead rate variance Variable overhead efficiency variance $

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