Lot Cabbard Foung GA Materials price variance - AQ LAPS Materials quantity variance - SP (SO) $120 $60.000 Direct labout at vare-AHASR) Direct labour officiency wariance - SR AHSH $500.000 5240000 15 Variable overhead rate variance - AHAR SR Variable overhead efficiency variance - SRAH SH $168.00 $135.00 1 Question 2 Orville Company's standard and actual costs per unit are provided below for the most recent period. During this time 3 period 400 units were actually produced. Product Product Standard Cost Actual Cost 5 Materials Metres Unit Price Per Metre 6 Standard 3 $1.50 S4.50 7 Actual 3.1 $1.60 $4.96 8 Direct labour Hours Hourly Rate 9 Standard 24 $6.00 $14.40 10 Actual 2.5 $6.50 $16.25 11 Variable overhead Hours Hourly Rate 12 Standard $3.40 S5.10 13 Actual 1.4 $3.10 $434 14 Total unit cost $24.00 $25.55 15 16 17. For simplicity, assume there was no inventory of materials at the beginning or end of the period 18 19 Required 20 Given the information above, compute the following variances. Also indicate if the variances are favorable or unfavorable 21 1. Materials price variance 22 2. Materials quantity variance 23 3. Direct labour rate variance 24 4. Direct labour efficiency variance 25 5. Variable owerhead rate arance Variance Total Variance AD AQ-SP50 5600 $120.000 -APA-AQSAQ SPSS NOEN SP)-5PAQ SOL First keep AQ no change Then keep SP no change