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please provide full explaination, including the math. Boat Buddy makes a paddle boat with the following standard costs per unit produod Direct Materials (lbs) Direct
please provide full explaination, including the math.
Boat Buddy makes a paddle boat with the following standard costs per unit produod Direct Materials (lbs) Direct Labor (hes) Variable Overhead Costs Sind any needed stnd Price/Rate per Per Unit Unit of Measure 3.255 4.50 0.40 5 19.25 0.40 5 4.25 Actual Results: 8.250 units produced Direct material - Actually purchased 24.450 lbs at $4.70 per lb. Direct Labor - Payroll totaled $64,600 for actual hours worked of 3,400 hours Overhead Cost - Actual overhead costs was $18,700 allocated based on actual direct labor hours Required: a Compute the total product cost (standard and actual) and calculate product cost variance (7pts) 75 b. Compute the total materials quantity variance. (3pts) .15 c Compute the materials price variance. (3pts) d. Compute the total labor efficiency variance. (3pts) e. Compute the labor rate variance (3pts) 1. Compute the total variable overhead efficiency variance. (3pts) g. Compute the variable overhead rate variance. (3pts) Step by Step Solution
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