Speed, Incs Standard Cost Card for jogging suits.

The standard cost for one jogging suit would be:

Standard Cost Card for Jogging Suits
	(1 ) Standard Quantity or Hours	(2) Standard Price or Rate		(1) (2) Standard Cost
Direct materials.....................................	3.5 yards	$6	per yard	$21
Direct labor...........................................	2.0 hours	$18	per hour	36
Variable manufacturing overhead...........	2.0 hours	$4	per hour	8
Total standard cost per suit....................				$65

Direct Labor Information

The following data are for last months production:

Number of suits completed (as before)...........................................	5,000 units
Cost of direct labor (10,500 hours @ $20 per hour).........................	$210,000

Variable Manufacturing Overhead Information

The following data are for last months production:

Number of suits completed (as before)...............................	5,000 units
Actual direct labor-hours (as before)...................................	10,500 hours
Variable overhead costs incurred........................................	$40,950

Direct Material Information

The following data are for last months production:

Number of suits completed..................................	5,000 units
Cost of material purchased (20,000 yards $5.40 per yard)	$108,000
Yards of material used........................................	20,000 yards

1. Calculate Direct Material Variances for price & quantity:

2. Calculate Direct Labor Variances for rate & efficiency:

3. Calculate Variable Overhead Variances for rate & efficiency: