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please help The standard cost sheet for Chambers Company, which manufactures one product, follows: $ 90 100 Direct materials, 30 yards at $3.00 per yard
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The standard cost sheet for Chambers Company, which manufactures one product, follows: $ 90 100 Direct materials, 30 yards at $3.00 per yard Direct labor, 5 hours at $20 per hour Factory overhead applied at 70% of direct labor (variable costs - $50; fixed costs = $20) Variable selling and administrative Fixed selling and administrative Total unit costs 70 71 42 $ 378 Standards have been computed based on a master budget activity level of 29.500 direct labor-hours per month. Actual activity for the past month was as follows Materials used rect labor Total factory overhead Production 200,000 yards at 53.05 per yard 29.260 hours at $21.50 per hour $450,000 5,700 units Required: Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct materials: Price variance Efficiency variance Direct labor Price variance Efficiency variance Variable overhead: Efficiency variance Fixed overhead: Production volume variance Step by Step Solution
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