Orient Company has developed the following standards for one of its products: Direct materials 10 pounds x $8 per pound Direct labour 6 hours x $20 per hour Variable overhead 6 hours x $6 per hour The following activities occurred during the month of November: Materials purchased 8,000 pounds costing $70,000 Materials used 6,500 pounds Units produced 600 units Direct labour 4,200 hours costing $75,600 Actual variable overhead $26,400 The company records materials price variances at the time of purchase. Required: (a) The materials price variance (b) The materials usage variance (c) The labour rate variance (d) The labour efficiency variance (e) The overhead spending variance (f) The overhead efficiency variance 2. Wade Company has developed the following standards for one of its products: Direct materials 20 pounds x $6 per pound Direct labour 5 hours x $16 per hour The following activities occurred during the month of October: Materials purchased 250,000 pounds costing $1,300,000 Materials used 220,000 pounds Units produced 10,000 units Direct labour 48,000 hours at $15.00 per hour The company records materials price variances at the time of purchase. Required: (a) The materials price variance (b) The materials usage variance (c) The labour rate variance (d) The labour efficiency variance 3. Lisle Manufacturing has developed the following standards for one of its products: STANDARD VARIABLE COST CARD ONE UNIT OF PRODUCT Direct materials: 10 yards x $10 per yard $100.00 Direct labour: 4 hours x $16 per hour 64.00 Variable overhead: 4 hours x $10 per hour 40.00 Total standard variable cost per unit $204.00 The company records materials price variances at the time of purchase. During August, Lisle purchased 16,000 yards of material costing $169,600 and used 12,500 yards in its manufacturing process. There was no material inventory at August 1. Lisle recorded a total of 4,600 direct labour hours worked for a total payroll of $72,680. Lisle manufactured 1,200 units in August. Required: a. Calculate the materials price and usage variance b. Calculate the labour rate and efficiency variance 4. Fosse Manufacturing Company has developed the following standards for one of their products: STANDARD VARIABLE COST CARD ONE UNIT OF PRODUCT Direct materials: 20 square feet x $10 per square foot $200.00 Direct labour: 8 hours x $12 per hour 96.00 Variable overhead: 8 hours x $6 per hour 48.00 Total standard variable cost per unit $344.00 The company records materials price variances at the time of purchase. The following activities occurred during the month of May: Materials purchased 150,000 square feet at $10.50 per sq. foot Materials used 96,000 square feet Units produced 5,000 units Direct labour 41,000 hours at $13.10 per hour Actual variable overhead $238,000 Required: (a) The materials price variance (b) The materials usage variance (c) The labour rate variance (d) The labour efficiency variance (e) The overhead spending variance (f) The overhead efficiency variance