The following data is for the first week of operations in March 2021: Production: Actual Produced = 478 cabinets Budget Produced = 500 cabinets Materials: Actual Purchased = 21,500 screws @ $0.03 per screw Actual usage = 19,350 screws Standard usage = 20,020 screws @ $0.04 per screws Actual Purchased wood = 20,000 m3 @ $25.00 per Actual usage wood = 19,000 m3 Standard usage wood = 17,500 m3 @$22.50 Direct Labor: Actual hours = 310 hours @ $12.10

Required

Part 1

Calculate the actual total cost for the week

Calculate the actual total cost per cabinet

Calculate the actual material cost per cabinet

Calculate the actual labour cost per cabinet

Calculate the total budgeted costs for the week

Calculate the budgeted total cost per cabinet

Calculate the budgeted material cost per cabinet

Calculate the budgeted labour cost per cabinet

Part 2

Is the actual cost per cabinet favourable or unfavourable when compared to the budget?

Which input has the greatest variance?