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Please identify if it is favorable or unfavorable Toledo Chemical Company manufactures Florizyle, a product used in the plastics industry. The company prepares its budget
Please identify if it is favorable or unfavorable
Toledo Chemical Company manufactures Florizyle, a product used in the plastics industry. The company prepares its budget on the basis of standard costs. The following data are for August: Actual results: Direct material 3,100 kilograms at $0.89 per kilogram Direct labor 4,900 hours at $14.08 per hour Variable overhead $15,995 Fixed overhead $21,000 Units produced 1,000 units Standards: Direct material 3 kilograms at $1.00 per kilogram Direct labor 5 hours at $14.00 per hour Variable overhead $3.20 per direct labor hour Fixed overhead $22,356 Expected activity 5,750 direct labor hours 5. Variable overhead price variance: $ 6. Variable overhead efficiency variance: $ 7. Fixed overhead budget variance: $ 8. Fixed overhead volume variance: $ (Clic (Clic (Clic (ClicStep by Step Solution
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