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Requirement 1 : Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit

Requirement 1 :

Tharaldson Corporation makes a product with the following standard costs:

Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit
Direct materials 5.4 ounces $ 3.00 per ounce $ 16.20
Direct labor 0.7 hours $ 12.00 per hour $ 8.40
Variable overhead 0.7 hours $ 9.00 per hour $ 6.30

The company reported the following results concerning this product in June.

Originally budgeted output 4,200 units
Actual output 4,200 units
Raw materials used in production 24,000 ounces
Purchases of raw materials 20,300 ounces
Actual direct labor-hours 5,300 hours
Actual cost of raw materials purchases $ 42,700
Actual direct labor cost $ 14,200
Actual variable overhead cost $ 4,100

The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.

The materials quantity variance for June is:

Requirement 2:

Tharaldson Corporation makes a product with the following standard costs:

Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit
Direct materials 5.9 ounces $ 2.00 per ounce $ 11.80
Direct labor 0.8 hours $ 10.00 per hour $ 8.00
Variable overhead 0.8 hours $ 4.00 per hour $ 3.20

The company reported the following results concerning this product in June.

Originally budgeted output 3,700 units
Actual output 3,300 units
Raw materials used in production 20,900 ounces
Purchases of raw materials 22,000 ounces
Actual direct labor-hours 5,500 hours
Actual cost of raw materials purchases $ 42,400
Actual direct labor cost $ 13,700
Actual variable overhead cost $ 3,850

The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.

The materials price variance for June is:

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