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Outdoor Company manufactures camping tents from a lightweight synthetic fabric. Each tent has a standard materials cost of $21, consisting of 4 yards of fabric

Outdoor Company manufactures camping tents from a lightweight synthetic fabric. Each tent has a standard materials cost of $21, consisting of 4 yards of fabric at $5.25 per yard. The standards call for 2 hours of assembly at $10 per hour. The following data were recorded for October, the first month of operations:

Fabric purchased 9,000 yards x $ 5.00 per yard

Fabric used in production of 1,700 tents7,000 yards

Direct labor used3,600 hours x $10.75 per hour

(a) Compute all standard cost variances for materials and labor

Materials Price Variance (usage basis) 1750
Materials Price Variance (purchases basis) ????
Materials quantity variance 1050
Labor Rate Variance ????
Labor Efficiency variance 2000

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