The following labor standards have been established for a particular product:

Standard labor hours per unit of output8.3 hours

Standard labor rate$ 12.10 per hour

The following data pertain to operations concerning the product for the last month:

Actual hours worked6 100 hours

Actual total laborcost$71,370

Actual output900 units

a.What were labor variances for the month? Clearly indicateFavourable and Unfavourable.

b. Overhead is applied on the basis of direct labor hours:

Standard labor hours per unit of output8.3 hours

Standard variable overhead costs per hour $ 2.10 per hour

Required. Determine the overhead variances.

c. prepare the journal entries to record the labour costs for the period

The following materials standards have been established for a particular product:

Standard quantity per unit of output8.3 grams

Standard price$ 19.15 per grams

The following data pertain to operating concerning the product for the last month:

Actual materials purchased7,500 grams

Actual cost of materials purchased $141, 375

Actual materials used in production7,100 grams.

Actual output700 units

a. What were the materials variances for the month? Favorable and Unfavorable.

b. Prepare the journal entries necessary to record the purchase of the materials.

c. Prepare the journal entries necessary to record the use of the materials.