Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Thomas Corporation's April operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours. Direct material Standard (2 lb. @ $15.00/lb.) Actual (4,200 lb. @ $16.00/lb.) Direct labor Standard (0.5 hr. @ $30/hr.) Actual (950 hrs. @ $29.20/hr.) Variable overhead Standard (0.5 hr. @ $12/hr.) Actual Total Standard Units Costs Actual cost: $ Split cost: $ Standard cost: $ Materials price $ Materials efficiency $ $30 $15 (> $6

Determine the fotboning variances: Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or " U " for Unfavorable. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Materials Variances } \\ \hline Actual cost: & 3 & \\ \hline split cost: & 5 & \\ \hline Standard cost: & 5 & \\ \hline Materials price & 5 & \\ \hline Materials efficiency & 5 & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ Labor Variances } \\ \hline Actual cost: & 5 & \\ \hline Split cost: & s & \\ \hline Standard cost: & s & \\ \hline Labor rate & s & = \\ \hline Labor efficiency & s & = \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ Variable Overhead Variances } \\ \hline Actual cost: & 5 & \\ \hline Split cost: & 5 & \\ \hline Standard cost: & 5 & \\ \hline Variable overhead spending & $ & 0 \\ \hline Variable overhead efficiency & $ & 0 \\ \hline \end{tabular}