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Princess Inc. manufactures designer CatNip holders for national distribution. The standard costs for the manufacture of designer CatNip holders were as follows: Standard Costs Actual

Princess Inc. manufactures designer CatNip holders for national distribution. The standard costs for the manufacture of designer CatNip holders were as follows:

Standard Costs

Actual Costs

Direct materials

3,000 ounces. at $17

3,200 ounces. at $16

Direct labor

9,600 hrs. at $10

9,000hrs. at $10.80

Factory overhead

Rates per labor hour, based on 100% of normal capacity of 11,000 labor hrs.:

Variable cost, $4.80

$24,600 variable cost

Fixed cost, $?

$38,500 fixed cost

REQUIRED:

1. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance for the designer CatNip holders.

2. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance for the designer CatNip holders.

3. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance for the designer CatNip holders.

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