Pardoe, Inc., manufactures a single product. The company uses a standard cost system and has established the following standards for one unit of product:

Pardoe's budget for March used estimated production and sales of 2,800 units.

During March, the following activity was recorded by the company:

The company produced 3,000 units during the month.

A total of 8,000 pounds of material were purchased and used. The cost was $23,000.

For all of these Pardoe questions, pick the closest answer numerically and then choose based on the U or F. The materials price variance for March is:

During March, 1600 direct labor hours were worked at a rate of $6.50 per hour.

a. $750 U

b. $1,000 F

c. $5,000 U

d. $750 F

e. $5,000 F

f. $1,000 U

The materials quantity (or usage) variance for March is: a. $6,000 U b. $11,400 U c. $10,500 U d. $10,500 F e. $6,000 F f. $11,400 F

The labor efficiency (quantity) variance for March is: a. $1,200 U b. $3,120 U c. $5,040 U d. $1,200 F e. $5,040 F f. $3,120 F

The labor rate variance for March is: a. $4,640 F b. $4,640 U c. $800 U d. $480 F e. $480 U f. $800 F

Standard Quantity of inputs Standard Cost per unit $4.50 $3.60 or Rate per input 1.5 pounds$3.00 per pound $6.00 per hour Direct materials 0.6 hours Direct labor