PLEASE SHOW WORK

1.Compute the material price and quantity variances.

2.Compute the variable overhead rate and efficiency variance.

3.Compute the fixed manufacturing overhead budget variance the volume variance.

Ch. 10 EXAMPE 3 Joyce Company produces a single product. Variable and fixed manufacturing overhead costs are applied on the basis of direct labor hours. Budgeted fixed manufacturing overhead costs are $16,200. The standard cost card associated with this product is provided below Standard Quantity or Hours Standard Price or Rate Standard Cost per unit of output pe unt of input Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit of output 6 pounds 2 hours 2 hours 2 hours $4.00 per lb $8.00 per hr $6.00 per hr $9.00 per hr $24 16 12 18 $70 Denominator activity level is 1,800 direct labor hours. The actual activity for the past month was as follows. Materials purchased Materials used Direct labor Variable manufacturing overhead Fixed manufacturing overhead Production level 5,000 pounds at S 4,500 pound 1.650 hours at $7.75 per hour S8.500 $20,000 800 units 4.30 per pound s