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Sweetly Sent, Incorporated, manufactures scented pillar candles. Its standard cost information for the month of February follows: Standard Unit Standard Quantity Standard Price (Rate)
Sweetly Sent, Incorporated, manufactures scented pillar candles. Its standard cost information for the month of February follows: Standard Unit Standard Quantity Standard Price (Rate) Direct materials (wax) Direct labor 15 ounce 0.25 hour $ 0.05 per ounce $ 14.00 per hour Cost $ 0.75 3.50 Variable manufacturing overhead (based on direct labor hours) 0.25 hour $ 0.40 per hour 0.10 Fixed manufacturing overhead ($10,000 + 40,000 units) 0.25 Sweetly Sent has the following actual results for the month of February: Number of units produced and sold. Number of ounces of wax purchased and used Cost of wax used Number of labor hours worked. Direct labor cost Variable overhead cost Fixed overhead cost Required: 38,500 583,000 $ 37,895 9,900 $136,620 $ 3,630 $ 9,900 1. Calculate the direct materials price, quantity, and total spending variances for Sweetly Sent. 2. Calculate the direct labor rate, efficiency, and total spending variances for Sweetly Sent. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Sweetly Sent. Complete this question by entering your answers in the tabs below.
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