Goldfish Corp. produces swimming pool covers produced from a fabric designed to repel rain and snow. They use a standard costing system. Goldfish allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data:

Standards:

Direct material 20.0 yards per cover at $12.60 per yard

Direct labor 4.0 hours per cover at $10.80 per hour

Variable MOH standard rate $4.40 per direct labor hour

Predetermined fixed MOH standard rate $11.00 per direct labor hour

Total budgeted fixed MOH cost $81,000

Actual cost and operating data from the most recent month follows:

Purchased 45,810 yards at a total cost of $626,502

Used 44,500 yards in producing 2,700 covers

Actual direct labor cost of $94,660 for a total of 10,060 hours

Actual variable MOH cost $44,641

Actual fixed MOH cost $91,300

4. Calculate variable manufacturing overhead variances. Enter as a positive if favorable and negative if unfavorable.

a. Variable MOH rate variance:

b. Variable MOH efficiency variance:

Incorrect.

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5. Calculate fixed manufacturing overhead variances. Enter as a positive if favorable and negative if unfavorable.

a. Fixed overhead budget variance:

b. Fixed overhead volume variance:

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