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HZT Corporation has set the following standards for its single product: standard quantity standard price direct materials 4 pounds per unit $8 per pound direct
HZT Corporation has set the following standards for its single product: standard quantity standard price direct materials 4 pounds per unit $8 per pound direct labor 5 hours per unit $12 per hour variable overhead 5 hours per unit ??? per hour The following information relates to the month of September: 1. 70,560 pounds of direct materials were purchased at a cost of $7.70 per pound. 2. The variable overhead spending variance was $7,497 favorable. 3. 14,700 units were produced. 4. 72,030 direct labor hours were worked at a total cost of $943,593. 5. The actual variable overhead cost amounted to $705,600. 6. At September 1, the direct materials inventory consisted of 3,000 pounds. At September 30, the direct materials inventory totaled 8,500 pounds. Calculate the variable overhead efficiency variance for September. If the variance is favorable, place a minus sign in front of your answer (i.e., -5000). If the variance is unfavorable, enter your answer as a number (i.e., 5000).
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