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Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2017, 10,600 suits were
Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2017, 10,600 suits were produced. The following standard and actual cost data applied to the mont May when normal capacity was 13,500 direct labor hours. All materials purchased were used. Cost Element Direct materials Direct labor Overhead Standard (per unit) Actual 6 yards at S4.30 per yard 1.10 hours at $13.00 per hour 1.10 hours at $6.70 per hour (fixed $3.90; variable $2.80) 5266,845 for 64,300 yards ($4.15 per yard) $168,304 for 12,560 hours ($13.40 per hour) $49,800 fixed overhead $36,500 vanable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $52,650, and budgeted variable overhead was $37,800. Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round answers to 0 decimal places, e.g. 125.) (1) Total materials variance Materials price variance Materials quantity variance Total labor variance Labor price variance Labor quantity variance 6633 Favorable 9645 Favorable 3010 (2) 167 Unfavorable 11700 Unfavorable Compute the total overhead variance Total overhead variance
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