Rip Tide Company manufactures surfboards. Its standard cost information follows:

	Standard Quantity		Standard Price (Rate)			Standard Unit Cost
Direct materials (fiberglass)	15	sq.ft	$	5	per sq.ft.	$	75.00
Direct labor	10	hrs.	$	15	per hr.		150.00
Variable manufacturing overhead (based on direct labor hours)	10	hrs.	$	6	per hr.		60.00
Fixed manufacturing overhead ($24,000 300 units)							80.00

Rip Tide has the following actual results for the month of June:

Number of units produced and sold		312
Number of square feet of fiberglass used		4,920
Cost of fiberglass used	$	27,552
Number of labor hours worked		3,060
Direct labor cost	$	47,736
Variable overhead cost	$	14,790
Fixed overhead cost	$	20,500

Required:

1.

Calculate the direct materials price, quantity, and total spending variances for Rip Tide. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)

Direct materials Price Varience__________

Direct Materials Quanity_____________

Direct Materials Spending Variance________

2.

Calculate the direct labor rate, efficiency, and total spending variances for Rip Tide. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Direct Labor Rate Variance______ Direct Labor Efficiency Variance________ Direct Labor Spending Variance___________