Gourmet, Inc. produces containers of frozen food. During October the company had the following actual production and costs..

1. calculate the direct material price and quantity variance and indicate if favorable or Unfavorable.

2. Calculate labor rate variance and labor efficiency variance. indicate if favorable or unfavorable.

3. Calculate variable overhead spending variance and variable overhead efficiency variance. Indicate if favorable or unfavorable.

X Search ( Alt + Q ) bayo AutoSave On T.Smith Project 4 . Saved File Home Insert Draw Page Layout Formulas Data Review View Help Currency Conditional Formatting Arial 11 AT AY $ 19 Format as Table Paste B IUV Cell Styles ~ Number Styles Undo Clipboard Font Alignment C35 v : XV fx D G Part 2 Cost variance analysis 2 This part relates to Module 23. I have variance analysis support material in the Module 23 folder in course resources w Gourmet, Inc. produces containers of frozen food. During October the company had the following actual production and costs. Actual Containers produced in October 695 Variable Overhead $4,000 Fixed Overhead $12,300 8 Direct Labor cost $56,000 Which is 3,000 Direct labor hours 9 Actual material purchased $27,750 Which is 15,000 pounds + 10 Actual Material pounds used 14,600 pounds 11 12 Overhead is budgeted and applied using direct-labor hours. Standard cost and annual budget information are as follows: 13 14 Standard cost per container 15 Direct Labor 3 hours at $18.75 $56 16 Direct Material 20 pounds at $1.74 $35 Direct labor 17 Variable overhead 3 hours at $1.50 $4.50 Direct labor 18 Fixed Overhead 3 hours at $3.00 $9 19 Total $104.55 InstructionsProject4 Part 1 Part1 BudgetSolution Part 2 Part 3 Part 4 + Ready My Accessibility: Investigate 36 F Clear Search ESC FnLock X F3 F5 F6 E7 Eg F10 a S 2 3 4 5