Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Steffan Corporations April operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours.

			Standard Units Costs			Total Actual Costs
Direct material
Standard (2 lb. @ $9.50/lb.)			$19
Actual (4,200 lb. @ $10.20/lb.)					$42,840
Direct labor
Standard (0.5 hr. @ $24/hr.)			$12
Actual (970 hrs. @ $23.40/hr.)					22,698
Variable overhead
Standard (0.5 hr. @ $6/hr.)			$3
Actual			-		6,200
Total			$34		$71,738

Assume that the 4,200 lb. of materials purchased were all used in producing the 2,000 completed units. Determine the materials price and efficiency variances, labor rate and efficiency variances, and variable overhead spending and efficiency variances.

Materials Variances
Actual cost:	Answer
Split cost:	Answer
Standard cost:	Answer
Materials price	Answer	AnswerFU
Materials efficiency	Answer	AnswerFU

Labor Variances
Actual cost:	Answer
Split cost:	Answer
Standard cost:	Answer
Labor rate	Answer	AnswerFU
Labor efficiency	Answer	AnswerFU

Variable Overhead Variances
Actual cost:	Answer
Split cost:	Answer
Standard cost:	Answer
Variable overhead spending	Answer	AnswerFU
Variable overhead efficiency	Answer	AnswerFU