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Tuna Company set the following standard unit costs for its single product. The predetermined overhead rate is based on a planned operating volume of 50%
Tuna Company set the following standard unit costs for its single product. The predetermined overhead rate is based on a planned operating volume of 50% of the product capacity of 70.000 units per quarter. The following flexible budget information is available. During the current quarter, the company operated at 60% of capacity and produced 42.000 units product: actual direct labor totaled 414.000 hours. Units produced were assigned the following standard costs: Actual costs incurred during the current quarter follow: Required: Compute the direct materials cost variance, including its price and quantity variances. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Omit the "S" sign in your response.) Compute the direct labor variance, including its rate and efficiency variances. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Omit the "S" sign in your response.) Compute the overhead controllable and volume variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Omit the "S" sign in your response.)
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