Rudd Clothiers is a small company that manufactures tall-mens suits. The company has used a standard cost accounting system. In May 2020, 10,300 suits were produced. The following standard and actual cost data 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		8 yards at $4.80 per yard		$387,345 for 83,300 yards ($4.65 per yard)
Direct labor		1.20 hours at $14.00 per hour		$186,758 for 13,060 hours ($14.30 per hour)
Overhead		1.20 hours at $6.30 per hour (fixed $3.50; variable $2.80)		$48,100 fixed overhead $37,500 variable overhead

Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $56,000, and budgeted variable overhead was $44,800. (a) Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.)

(1)		Total materials variance		$Enter a dollar amount

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		Materials price variance		$Enter a dollar amount

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		Materials quantity variance		$Enter a dollar amount

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(2)		Total labor variance		$Enter a dollar amount

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		Labor price variance		$Enter a dollar amount

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		Labor quantity variance		$Enter a dollar amount

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(b) Compute the total overhead variance.

Total overhead variance

$Enter the total overhead variance in dollars

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