TB Problem $9-110($Algo$)[$LO $9-3,9-4]$

Basil Tooling uses a standard cost system to account for the costs of its one product. Standards are $4$ sheets of $\frac{1}{2}-$inch steel at $$110$ per

sheet and $14\mathrm{.}0$ hours of labor at a standard wage rate of $$13\mathrm{.}0.$ During July, Basil Tooling produced $600$ units. Materials purchased and

used totaled $2,590$ sheets at a price of $$106.$ Payroll totaled $$112,896$ for $8,820$ hours worked.

Required:

a$.$ Calculate the direct materials price variance.

Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or

"None" for no effect $($i$.$e$.,$ zero variance$).$

b$.$ Calculate the direct materials quantity variance.

Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect $($i$.$e$.,$ zero variance$).$

c$.$ Calculate the direct labor rate variance.

Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or

"None" for no effect $($i$.$e$.,$ zero variance$).$

d$.$ Calculate the direct labor efficiency variance.

Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect $($i$.$e$.,$ zero variance$).$