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The standard cost sheet for a product is shown. The company produced 3,000 units that required: 19,100 pounds of material purchased at $4.55 per pound
The standard cost sheet for a product is shown. The company produced 3,000 units that required: 19,100 pounds of material purchased at $4.55 per pound 6,500 hours of labor at an hourly rate of $12.00 per hour Actual overhead in the period was $17,000 Fill in the Budget Performance Report for the period. Some amounts are provided. Round your answers to the nearest dollar. However, do not round your intermediate calculations. Split the direct materials variance into the materials price variance and the materials usage variance. Remember that you want to isolate the price variance from the quantity variance so be sure to use factors that do not overlap. Also remember that the two variances should equal the total material variance
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