Standard Cost Card. Standard Quantity or Hours Standard Price or Rate Standard Cost

Direct Materials 3.5 Feet x $6. $21

Direct Labor 2.0 Hours x 18 36

Variable Overhead 2.0 hours x 4 8

Total Standard Cost Per Unit $65

Actual Production Data

Number of products completed 5,000

Cost of materials purchased (20,000 feet @5.40) $108,000

Feet of material used 20,000

Cost of direct labor (10,5000 hours @ $20) $210,000

Cost of Variance Overhead 40950

1. What is the material price variance?

2. Material quantity variance?

3. Labor Rate Variance?

4. Labor Efficiency Variance?

5. Variable Overhead Spending Variance?

6. Variable Overhead Efficiency Variance?

Please show steps I will rate