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Rudd Clothiers is a small company that manufactures tal-men's suits. The company has used a standard cost accounting system. In May 2017, 10,200 suits were
Rudd Clothiers is a small company that manufactures tal-men's suits. The company has used a standard cost accounting system. In May 2017, 10,200 suits were produced. The following standard and actual cost data appled to the month of May when normal capacty was 16,500 direct labor hours. All materials purchased were used, Cost Element Direct materials Direct labor Overhead Standard unit Actual 10 yards at $4.30 per yard 1.20 hours at $14.00 per hour 1.20 hours at $6.00 per hour (fixed $3.50; variable $2.50) $426,620 for 102,800 yards ($4.15 per yard) $183,612 for 12,840 hours ($14.30 per hour) $48,800 foxed overhead $36,500 variable overhead Overhead is appled on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $57,750, and budgeted variable overhead was $41,250. 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 varlance Materials price variance Materials quantity variance Total labor variance Labor price varianoe Labor quantity vaniance (2) Compute the total overhead variance. Total overhead variance
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