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Rudd Clothiers is a small company that manufactures tall-mens suits. The company has used a standard cost accounting system. In May 2017, 10,500 suits were

Rudd Clothiers is a small company that manufactures tall-mens suits. The company has used a standard cost accounting system. In May 2017, 10,500 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14,500 direct labor hours. All materials purchased were used.

Cost Element

Standard (per unit)

Actual

Direct materials

9 yards at $4.50 per yard

$419,320 for 95,300 yards ($4.40 per yard)

Direct labor

1.10 hours at $14.00 per hour

$173,745 for 12,150 hours ($14.30 per hour)

Overhead

1.10 hours at $6.30 per hour (fixed $3.70; variable $2.60)

$49,100 fixed overhead $37,500 variable overhead

Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $53,650, and budgeted variable overhead was $37,700. Compute the total, price, and quantity variances for (1) materials and (2) labor and (3) Total overhead variance (Round answers to 0 decimal places, e.g. 125.)

Favorable/Unfavorable

Total Material Variance

$

Material Price Variance

$

Material Quantity Variance

$

Total Labor Variance

$

Labor Price Variance

$

Labor Quantity Variance

$

Total Overhead Variance

$

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