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The standard cost sheet for Chambers Company, which manufactures one product, follows: Direct materials, 30 yards at $3.00 per yard $ 90 Direct labor, 5

The standard cost sheet for Chambers Company, which manufactures one product, follows:

Direct materials, 30 yards at $3.00 per yard $ 90
Direct labor, 5 hours at $20 per hour 100
Factory overhead applied at 70% of direct labor
(variable costs = $50; fixed costs = $20) 70
Variable selling and administrative 71
Fixed selling and administrative 47
Total unit costs $ 378

Standards have been computed based on a master budget activity level of 29,500 direct labor-hours per month. Actual activity for the past month was as follows:

Materials used 200,000 yards at $3.05 per yard
Direct labor 29,200 hours at $21.50 per hour
Total factory overhead $ 450,000
Production 5,700 units

Required:

Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

Please if possible show how to get each number! Thank you!!!

image text in transcribed

indicate the enecu OT Dy selecung for unfavorable. If there is no effect, do not select either optio X Answer is not complete. Direct materials: Price variance Efficiency variance Direct labor Price variance U Efficiency variance U Variable overhead Efficiency variance $ 10,000 U Fixed overhead: Production volume variance $ 4.000 U

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