Rudd Clothiers is a small company that manufactures tall men's sults. The company has used a standard cost accounting system. In May 2020, 10,600 suits were produced. The following standard and actual cost dota applied to the month of May when normal capacity was 16,000 direct labor hours. All materials purchased were used. Cost Element Standard (per unit) Actual Direct materials 10 yards at $4.90 per yard $501,020 for 106,600 yards ($4.70 per yard) Direct labor 1.20 hours at $13.00 per hour $182,508 for 13,620 hours ($13.40 per hour) Overhead 1.20 hours at $6.40 per hour (fixed $3.60; variable $2.80) $49,200 fixed overhead $36,500 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $57,600, and budgeted variable overhead was 544,800 Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $57,600, and budgeted variable overhead was $44,800. (a) Compute the total price, and quantity variances for (1) materials and (2) tabor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to o decimal places, e.g. 52.) (1) Total materials variance 21320 Favorable X Materials price variance -7840 Uefavorable Materials quantity variance 13480 Favorable Total labor variance -5488 Unfavorable Labor price variance -11700 Unfavorable Labor quantity variance -17148 Unfavorable (b) Compute the total overhead variance. Total overhead variance Rudd Clothiers is a small company that manufactures tall men's sults. The company has used a standard cost accounting system. In May 2020, 10,600 suits were produced. The following standard and actual cost dota applied to the month of May when normal capacity was 16,000 direct labor hours. All materials purchased were used. Cost Element Standard (per unit) Actual Direct materials 10 yards at $4.90 per yard $501,020 for 106,600 yards ($4.70 per yard) Direct labor 1.20 hours at $13.00 per hour $182,508 for 13,620 hours ($13.40 per hour) Overhead 1.20 hours at $6.40 per hour (fixed $3.60; variable $2.80) $49,200 fixed overhead $36,500 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $57,600, and budgeted variable overhead was 544,800 Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $57,600, and budgeted variable overhead was $44,800. (a) Compute the total price, and quantity variances for (1) materials and (2) tabor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to o decimal places, e.g. 52.) (1) Total materials variance 21320 Favorable X Materials price variance -7840 Uefavorable Materials quantity variance 13480 Favorable Total labor variance -5488 Unfavorable Labor price variance -11700 Unfavorable Labor quantity variance -17148 Unfavorable (b) Compute the total overhead variance. Total overhead variance
