Inputs Direct materials Direct labor Standard Quantity or Hours per Unit of Output 8.90 liters 0.50 hours 0.58 hours Standard Price or Rate $ 8.50 per liter $29.70 per hour $ 7.40 per hour Variable manufacturing overhead The company has reported the following actual results for the product for September Actual output Raw materials purchased Actual cost of raw materials purchased Raw materials used in production Actual direct labor-hours Actual direct labor cost Actual variable overhead cost 11,100 units 100,500 liters $875,500 98,820 liters 5, 140 hours $160, 302 $ 33,414 Required: a. Compute the materials price variance for September b. Compute the materials quantity variance for September. c. Compute the labor rate variance for September d. Compute the labor efficiency variance for September e. Compute the variable overhead rate variance for September f. Compute the variable overhead efficiency variance for September. (Indicate the effect of each variance by selecting "F* for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) 1. Materials price variance b. Materials quantity variance G. Labor rate variance d. Labor efficiency variance e Variable overhead rate variance Variable overhead efficiency variance Russell Wilson Corporation, which makes deep space equipment and gears, has provided the following data for a recent month: Budgeted production Standard machine-hours per gear Budgeted supplies cost Actual production Actual machine-hours Actual supplies cost (total) 1,700 gears 5.8 machine-hours $ 6.40 per machine-hour 1,300 gears 8,000 machine-hours $49,792 Required: Determine the rate and efficiency variances for the variable overhead Item supplies and indicate whether those variances are (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) favorable or unfavorable. Variable overhead rate variance Variable overhead efficiency variance The following labor standards have been established for a particular product: Standard labor hours per unit of output 4.5 hours $17.60 per hour Standard tabor rate 8:01 The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 6,100 hours $ 107,970 1,300 units Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month? (Indicate the effect of each variance by selecting "F" for favorable. "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) a Labor rate variance b. Labor efficiency variance
