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Harvey Inc. manufactures Product S for national distribution. The standard costs for the manufacture of Product S is as follows: Direct materials Direct labor Factory
Harvey Inc. manufactures Product S for national distribution. The standard costs for the manufacture of Product S is as follows: Direct materials Direct labor Factory overhead Standard Costs 1,500 pounds at $35 Actual Costs 1,600 pounds at $32 4,800 hours at $11 4,500 hours at $11.80 Rates per labor hour, based on 100% of-normal 5,500 labor hours: Variable costs $2.40 Fixed costs, $3.50 $12,300 variable cost $19,250 fixed cost 1. Determine the quantity variance, price variance, and total direct material cost variance for Product S. 2. Determine the time variance, rate variance, and total direct labor cost variance for Product S
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