Problem 8-23AComputing materials, labor, and cost variances

Planned volume for year (static budget) 6,000 units Standard direct materials cost per unit 3.1 pounds @ $3.00 per pound Standard direct labor cost per unit 2 hours @ $8.00 per hour Total expected fixed overhead costs $56,400 Actual volume for the year (flexible budget) 6,300 units Actual direct materials cost per unit 2.7 pounds @ $4.00 per pound Actual direct labor cost per unit 2.3 hours @ $7.20 per hour Total actual fixed overhead costs $45,000Planned volume for year (static budget) 10,000 units Standard direct materials cost per unit 2 pounds @ $3.60 per pound Standard direct labor cost per unit 0.5 hour @ $30.00 per hour Total planned fixed overhead costs $24,000 Actual volume for the year (flexible budget) 10,800 units Actual direct materials cost per unit 1.9 pounds @ $3.84 per pound Actual direct labor cost per unit 0.6 hour @ $24.00 per hour Total actual fixed overhead costs $24,800