Red Hook Marine Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Oceanside uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows:

Direct materials: 2 pound per unit; $12 per pound

Direct labor: 2 hours per unit; $16 per hour

Oceanside produced 3,000 units during the quarter. At the end of the quarter, an examination of the direct materials records showed that the company used 6,500 pounds of direct materials and actual total materials costs were $99,600.

What is the direct materials cost variance?

4) Samuels Creations manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Pierce uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows:

Direct materials: 3 pounds per unit; $4 per pound

Direct labor: 5 hours per unit; $16 per hour

Samuels Creations produced 5,000 units during the quarter. At the end of the quarter, an examination of the labor costs records showed that the company used 30,000 direct labor hours and actual total direct labor costs were $372,000. What is the direct labor efficiency variance?

5) The following information relates to Gouws Manufacturing's overhead costs for the month:

Static budget variable overhead $14,200

Static budget fixed overhead $5,600

Static budget direct labor hours 1,000 hours

Static budget number of units 5,000 units

Welty allocates manufacturing overhead to production based on standard direct labor hours.

Welty reported the following actual results for last month: actual variable overhead, $ 14,500; actual fixed overhead, $ $5,400; actual production of 4,700 units at 0.22 direct labor hours per unit. The standard direct labor time is 0.20 direct labor hours per unit.

Compute the fixed overhead volume variance.