Required information

Use the following information for the Exercises below.

[The following information applies to the questions displayed below.] A manufactured product has the following information for June.

	Standard	Actual
Direct materials	(5 lbs. @ $8 per lb.)		44,100	lbs. @ $8.10 per lb.
Direct labor	(3 hrs. @ $16 per hr.)		25,700	hrs. @ $16.50 per hr.
Overhead	(3 hrs. @ $12 per hr.)	$	319,900
Units manufactured			8,700

Exercise 23-8 Standard unit cost; total cost variance LO C2

(1) Compute the standard cost per unit.

(2) Compute the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable.

Exercise 23-9 Direct materials variances LO P2

AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price

Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable.

Exercise 23-10 Direct labor variances LO P2

AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate

Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable.

Direct materials Direct labor Overhead Total 0 Total cost variance Actual Cost Standard Cost 0 0 Actual Cost Standard Cost 0