Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2020,10,000suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was14,500direct labor hours. All materials purchased were used.

Cost Element

Standard (per unit)

Actual

Direct materials10yards at $4.50per yard$443,080for100,700yards ($4.40per yard)Direct labor1.10hours at $14.00per hour$169,650for11,700hours ($14.50per hour)Overhead1.10hours at $6.40per hour (fixed $3.60; variable $2.80)$48,700fixed overhead $36,500variable overhead

Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $52,200, and budgeted variable overhead was $40,600.

(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$

UnfavorableFavorableNeither favorable nor unfavorable

Materials price variance$

UnfavorableFavorableNeither favorable nor unfavorable

Materials quantity variance$

UnfavorableFavorableNeither favorable nor unfavorable

(2)Total labor variance$

Neither favorable nor unfavorableUnfavorableFavorable

Labor price variance$

Neither favorable nor unfavorableUnfavorableFavorable

Labor quantity variance$

Neither favorable nor unfavorableUnfavorableFavorable

(b)

Compute the total overhead variance.

Total overhead variance$

UnfavorableFavorableNeither favorable nor unfavorable

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