Ridgewood Products operates a small plant in New Mexico that produces dog food in batches of $1,500$ pounds. The product sells for $$6$ per pound. Standard costs for $2021$ are: Ridgewood Products operates a small plant in New Mexico that produces dog food in batches of $1,500$ pounds. The product sells for

$$6$ per pound. Standard costs for $2021$ are:

At the start of $2021,$ the company estimated monthly production and sales of $50$ batches. The company estimated that all overhead

costs were fixed and amounted to $$25,000$ per month. During the month of June $2021($typically a somewhat slow month$),38$ batches

were produced $($not an unusual level of production for June$).$ The following costs were incurred:

Direct labor costs were $$7,100$ for $450$ hours.

$36,500$ pounds of material A costing $$9,125$ were purchased and used.

$12,600$ pounds of material B costing $$5,544$ were purchased and used.

Fixed overhead of $$21,000$ was incurred. Your answer is partially correct.

Calculate variances for material, labor, and overhead. $($Round intermediate calculations to $2$ decimal places, e$.$g$.1\mathrm{.}62$ and final answers

to $0$ decimal places, e$.$g$.125.$ Enter all variances as a positive number.$)$

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Standard direct labor cost $\backslash (=\backslash$$ $15\backslash )$ per hour

Standard direct labor hours per batch $\backslash (=10\backslash )$ hours

Standard price of mate

At the start of $2021,$ the company estimated monthly production and sales of $47$ batches. The company estimated that all overhead costs were fixed and amounted to $$25,000$ per month. During the month of June $2021($typically a somewhat slow month$),39$ batches were produced $($not an unusual level of production for June$).$ The following costs were incurred:

Direct labor costs were $\backslash (\backslash$$ $7,730\backslash )$ for $440$ hours.

$33,800$ pounds of material A costing $\backslash (\backslash$$ $9,464\backslash )$ were purchased and u

Calculate variances for material, labor, and overhead. $($Round intermediate calculations to $2$ decimal places, e$.$g$.1\mathrm{.}62$ and final answers to $0$ decimal places, e$.$g$.125.$ Enter all variances as a positive number.$)$

Prepare a summary of the variances. $($Enter unfavorable variances using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$

Material Price Variance $($Material A$)$

Material Price Variance $($Material B$)$

Material Quantity Variance $($Material A$)$

Material Qu

Does the unfavorable overhead volume variance suggest that overhead costs are out of control?

The overhead volume variance $($suggests $/$ does not suggest$)$ that overhead costs are out of control.