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**ONLY NEED PARTS E & F** Thompson Company uses a standard cost system for its single product. The following data are available: Actual experience for
**ONLY NEED PARTS E & F**
Thompson Company uses a standard cost system for its single product. The following data are available: Actual experience for the current year: Purchases of raw materials (15,000 yards at $13). $195,000 Raw materials used..... 12,000 yards Direct labor costs (10,200 hours at $10). $102,000 Actual variable overhead cost $84,150 Units produced 12,600 units Standards per unit of product: Raw materials. 1.1 yards at $15 per yard Direct labor..... 0.80 hours at $9.50 per hour Variable overhead.. 58 per direct labor hour Required: From the foregoing information, compute the following variances Show whether the variance is favorable (F) or unfavorable (U): a. Material price variance b. Material quantity variance c. Direct labor rate variance d. Direct labor efficiency variance e. Variable overhead spending variance . Variable overhead efficiency varianceStep by Step Solution
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