STANDARD: DIRECT MATERIAL: Each unit requires 8 pounds of material DIRECT LABOR: Each unit requires 3 hours of direct labor Standard cost per pound = $2.50 Standard labor rate per hour = $10 Planned Output = 1500 units Budgeted Manufacturing Overhead per period = $33,000 + 2X, where X = machine hours (Each unit produced requires 4 hours of machine time)

STANDARD: DIRECT MATERIAL: Each unit requires 8 pounds of material Standard cost per pound =$2.50 DIRECT LABOR: Each unit requires 3 hours of direct labor Standard labor rate per hour =$10 Planned Output =1500 units Budgeted Manufacturing Overhead per period =$33,000+2X, where X= machine hours (Each unit produced requires 4 hours of machine time) Direct Materials Purchased =15,000 pounds; Direct materials Used =14,000 pounds; Price paid per pound =$2.60 Direct Labor hours worked =4,700 hrs Rate paid per hour =$9.50 $s spent for Variable Overhead =$13,860 \$'s spent for Fixed Overhead =$33,400 Actual Output =1,600 units Actual Machine Hours used =6300 \begin{tabular}{|l|l|l|l|} \hline \multicolumn{1}{|c|}{ Variance } & \$ Amount & Favorable or Unfavorable \\ \hline DIRECT MATERIAL PRICE VARIANCE & & \\ \hline DIRECT MATERIAL QUANTITY VARIANCE & & \\ \hline DIRECT LABOR RATE VARIANCE & & \\ \hline DIRECT LABOR EFFICIENCY VARIANCE & & \\ \hline VARIABLE OVERHEAD SPENDING VARIANCE & & \\ \hline VARIABLE OVERHEAD EFFICIENCY VARIANCE & & \\ \hline FIXED OVERHEAD BUDGET VARIANCE & & \\ \hline \end{tabular} (United States) 2T