PROBLEM 6 (20 Points)

More Hits Company manufactures aluminum baseball bats that it sells to university athletic departments. It has developed the following per unit standard costs for 2019 for each baseball bat:

Standard Data Actual Data

Materials 2 lbs. @ $4 per lb. Produced 114,000 bats

Labor .5 hrs. @ $10 per hr. Materials purchased 246,000 lbs for $1,020,900

Budgeted production 120,000 bats (units) Materials used 220,000 lbs.

Labor worked 58,700 hrs. costing $575,260

In 2020, the company planned to produce 120,000 baseball bats at a level of 60,000 hours of direct labor.

(Show calculations and round all answers to the nearest dollar.)

What is the material price variance (calculated at point of purchase)?

What is the material quantity variance?

What is the total materials variance?

What is the labor rate variance?

What is the labor efficiency variance?

What is the total labor variance