Show Attempt History Current Attempt in Progress Hart Labs, Inc. provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore, Hart Labs must constantly monitor and control its testing costs. Shown below are the standard costs for a typical test. Direct materials (2 test tubes @ $1,46 per tube) $2.92 Direct labor (1 hour @ $24 per hour) 24.00 Variable overhead (1 hour @ $6.00 per hour) 6.00 Fixed overhead (1 hour @ $10.00 per hour 10.00 Total standard cost per test $42.92 The lab does not maintain an inventory of test tubes. As a result, the tubes purchased each month are used that month. Actual activity for the month of November 2020, when 1.475 tests were conducted resulted in the following Direct materials (3,050 test tubes) 54.270 Direct labor (1.550 hours) 35,650 Variable overhead 7.400 Fixed overhead 15,000 Monthly budipeted fixed overhead is $14,000. Revenues for the month were $75,000, and selling and administrative expenses were $5,000 OD 2 3 4 5 8 9 0 6 7 Your answer is partially correct. Compute the price and quantity variances for direct materials and direct labor. $ 183 i Favorable Materials price variance Materials quantity variance Labor price variance $ 190 Untavorable $ 1550 Favorable Labor quantity variance $ 1800 i Unfavorable (6) Compute the total overhead variance. Total Overhead variance $ Favorable e Textbook and Media List Accounts Attempts: 0 of 3 used Submit Answer Save for Later Last saved B minutes ago Saved work will be auto submitted on the due date. (c) Hart Labs, Inc. provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore, Hart Labs must constantly monitor and control its testing costs. Shown below are the standard costs for a typical test. Direct materials (2 test tubes @ $146 per tube) $2.92 Direct labor (1 hour @ $24 per hour) 24.00 Variable overhead (1 hour @ $6,00 per hour) 6.00 Fixed overhead (1 hour @ $10.00 per hour) 10.00 Total standard cost per test $42.92 The lab does not maintain an inventory of test tubes. As a result, the tubes purchased each month are used that month. Actual activity for the month of November 2020 when 1.475 tests were conducted, resulted in the following Direct materials (3,050 test tubes) $4.270 Direct labor (1.550 hours) 35,650 Variable overhead 7,400 Fixed overhead 15,000 Monthly budgeted fixed overhead is $14,000. Revenues for the month were $75,000, and selling and administrative expenses were $5.000 ompute the price and quantity variances for direct materials and direct labor. Materials price variance $ 183 i Favorable Materials quantity variance 190 Unfavorable Labor price variance 1550 i Favorable Labor quantity variance $ 1800 i Unfavorable (b) Compute the total overhead variance. Total Overhead variance $ Favorable e Textbook and Media List of Accounts Save for Later Last saved 8 minutes ago Saved work will be auto-submitted on the due date. Attempts: 0 of 3 used Submi
