Lamont Wood Products produced 3,200 bookshelves in May. The standards and actual cost data is shown below.

	Standard Cost	Actual Cost
Direct Materials
Standard: 1.4 feet at $3.00 per foot	$4.20
Actual: 1.35 feet at $3.20 per foot		$4.32
Direct Labor
Standard: .75 hours at $15.00 per hour	$11.25
Actual: .7 hours at $14.40 per hour		$10.08
Variable Manufacturing Overhead
Standard: .75 hours * $4.00 per hour	$3.00
Actual: .7 hours * $3.60 per hour		$ 2.52
Total cost per unit:	$18.45	$16.92

1. Compute the materials price and quantity variances
2. Compute the direct labor rate and efficiency variances
3. Compute the variable overhead rate and efficiency variances

Copy and paste the table below to use to enter your answers into.

Materials Price Variance
Actual Quantity	Actual Price	Standard Price	Difference	Price Variance	Favor/Unfavorable
Materials Quantity Variance
Standard Price	Actual Quantity	Standard Quantity	Difference	Quantity Variance	Favor/Unfavorable
Labor Rate Variance
Actual Hours	Actual Rate	Standard Rate	Difference	Price Variance	Favor/Unfavorable
Labor Efficiency Variance
Standard Rate	Actual Hours	Standard Hours	Difference	Quantity Variance	Favor/Unfavorable
Variable Overhead Rate Variance
Actual Hours	Actual Rate	Standard Rate	Difference	Rate Variance	Favor/Unfavorable
Variable Overhead Efficiency Variance
Standard Rate	Actual Hours	Standard Hours	Difference	Quantity Variance	Favor/Unfavorable