Question
The standard costs and variances for direct materials, direct labor, and factory overhead for the month of May are as follows: Variances Standard Cost Unfavorable
The standard costs and variances for direct materials, direct labor, and factory overhead for the month of May are as follows:
Variances Standard Cost Unfavorable Favorable Direct materials . . . . . . . . . . . . . . . . . . . . . . . . $ 85,000 Price variance . . . . . . . . . . . . . . . . . . . . . . . $5,000 Quantity variance . . . . . . . . . . . . . . . . . . . . . $3,000 Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . 150,000 Rate variance . . . . . . . . . . . . . . . . . . . . . . . . 2,700 Efficiency variance . . . . . . . . . . . . . . . . . . . . 6,200 Manufacturing overhead . . . . . . . . . . . . . . . . . 300,000 Spending variance . . . . . . . . . . . . . . . . . . . . 4,000 Volume variance . . . . . . . . . . . . . . . . . . . . . . 5,000
Determine the actual costs incurred during the month of May for direct materials, direct labor, and manufacturing overhead.
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