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please need help!! Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied
please need help!!
Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Standard Quantity or Inputs Hours per Unit of Output Standard Price or Rate Direct materials 8.4 ounces $ 6.50 per ounce Direct labor 0.6 hours $23.80 per hour Variable manufacturing overhead 0.6 hours $ 4.80 per hour The company has reported the following actual results for the product for April Actual output Raw materials purchased Actual cost of raw materials purchased Row materials used in production Actual direct labor hours Actual direct labor cost Actual variable overhead cost 6,000 units 54,760 ounces $299, 360 50,410 ounces 3,270 hours $ 80,810 $ 14,953 Required: a. Compute the materials price variance for April, b. Compute the materials quantity variance for April c. Compute the labor rate variance for April. d. Compute the labor efficiency variance for April. e. Compute the variable overhead rate variance for April Compute the variable overhead efficiency variance for April. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero verience). Input oll amounts os positive volues.) Proy 1 of 1 !!! Next Step by Step Solution
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