March 1, 2017, Goodman Co. began the manufacture of a new device known as "X".

Goodman installed a standard costing system in accounting for manufacturing costs of its product X.

The standard costs for one unit of X are as follows:

Raw materials:6 lbs. @ $1 per lb.^* .........................$6.00

Direct labor:1 hour @ $4 per hour^* ......................4.00

Overhead:75% of direct labor costs .................. 3.00

* According to the standard:

- One unit of X requires 6 pounds of raw materials, and the std. cost of raw materials is $1 per pound.

- One unit of X requires 1 hour of direct labor, and the std. direct labor rate is $4 per hour.

During May, 4,000 units of X were manufactured, and 2,500 units of X were sold.

The following data were obtained from Goodman's records for the month of May:

Sales....................................... $50,000,Purchases (26,000 pounds) .................................. $27,300

Material price variance (U) ......... 1,300,Material quantity variance (U)............................................ 1,000

Direct labor rate variance (U) ...... 760,Direct labor efficiency variance (F) ........................................... 800

*U (Unfavorable variance):Actual costs > Standard costs.

*F (Favorable variance):Actual costs < Standard costs.

REQUIRED: (Show your detailed computations!)

Compute each of the following items for Goodman for the month of May:

1.Standard quantity of raw materials allowed (in pounds).

2.Actual quantity of raw materials used (in pounds).

(Hint: Raw materials purchased (AQ_p) and used (AQ_u) are different amounts.)

3.Actual unit price of raw materials purchased

4.Standard direct labor hours allowed.

5.Actual direct labor hours worked.

6.Actual direct labor rate.

7.Total labor variance.