Loper Corporation manufactures only one product. The standard cost per unit of product is shown below:
Direct materials -- 2 pounds at $5 per pound $10.00
Direct labor -- 2 hours at $12 per hour 24.00
Variable manufacturing overhead 12.00
Fixed manufacturing costs 6.00
Total standard cost per unit $52.00


The default factory overhead rate is $9 per direct labor hour ($18/2). It was calculated from a master manufacturing overhead budget based on normal production of 15,000 direct labor hours (7,500 units) for the month. The master budget showed total variable costs of $90,000 ($6 per hour) and total fixed overhead costs of $45,000 ($3 per hour). Overhead is applied based on direct labor hours. The actual costs for October in the production of 7,400 units were as follows:

Direct materials (15,000 pounds) $73,500
Direct labor (14,900 hours) 181,780
Variable overhead 88,990
Fixed overhead 44,000
Total manufacturing costs $388,270


The purchasing department purchases the quantities of raw materials expected to be used in production each month. Raw material inventories, therefore, can be ignored.

1. Instructions: 
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3. Calculate all variances for materials, labor, and overhead. Your answer should include material price variance, material quantity variance, labor price variance, labor quantity variance, and total overhead variance.