Standard Costs

Direct materials

Direct labor

Factory overhead

$189,000$ lbs$.$ at $$5\mathrm{.}20$ per lb$.$

$17,500$ hrs$.$ at $$18\mathrm{.}40$ per hr$.$

Rates per direct labor hr$.,$ based on $100\%$ of normal

capacity of $18,260$ direct labor hrs$.$:

Variable cost, $$4\mathrm{.}80$

Fixed cost, $$7\mathrm{.}60$

Actual Costs

$187,100lbs.$ at $$5\mathrm{.}10$ per lb$.$

$17,900$ hrs$.$ at $$18\mathrm{.}80$ per hr$.$

$$83,160$ variable cost

$$138,776$ fixed cost

Each unit requires $0\mathrm{.}25$ hour of direct labor.

Required:

Direct Materials Price Variance

$$

Direct Materials Quantity Variance

$

Total Direct Materials Cost Variance

$$

Direct Labor Rate Variance

Direct Labor Time Variance

$

Total Direct Labor Cost Variance

variance as a positive number.

Variable factory overhead controllable variance

Fixed factory overhead volume variance

Total factory overhead cost variance