Variance Analysis

P $9-$ B

Asparagus Company manufactures a product known as Stinkweed.

The following actual data resulted in the production of $20,000$ units:

a$)$ Materials purchased $62,000$ pounds at a cost of $$8\mathrm{.}10$ per pound.

b$)$ Used $59,000$ pounds of materials in production.

c$)$ Worked $41,000$ direct labor hours at a cost of $$17\mathrm{.}00$ per hour

d$)$ Variable manufacturing overhead costs, during the month, totaled $$39,900.$ A total of $9,500$ machine hours were recorded.

Compute the followings

Material price variance

Material quantity variance

Labor rate variance

Labor efficiency variance

Variable overhead rate variance

Variable overhead efficiency variance