Victory for MSU, Inc. manufactures huge MSU flags for tailgating. The company uses a standard costing system and applies overhead on the basis of direct labor hours. Victory provides the following information about this product:

Standards:

Direct material 18.0 yards of material per flag at $12.80 per yard

Direct labor 3.0 hours per flag at $10.60 per hour

Variable manufacturing overhead (MOH) standard rate $4.00 per direct labor hour

Predetermined fixed MOH standard rate $11.00 per direct labor hour

Total budgeted fixed MOH cost $81,600

Actual cost data from the most recent month:

Purchased 43,400 yards of material at a total cost of $647,300

Used 38,900 yards of material in producing 2,000 flags

Actual direct labor cost of $81,280 for a total of 8,920 hours

Actual variable MOH cost $44,629

Actual fixed MOH cost $79,300

Carry your answers to four decimal places.

Calculate variable manufacturing overhead (MOH) variances. Enter as a positive if favorable and negative if unfavorable.

a. Variable MOH rate variance:

b. Variable MOH efficiency variance:

Calculate fixed manufacturing overhead (MOH) variances. Enter as a positive if favorable and negative if unfavorable.

a. Fixed overhead budget variance:

b. Fixed overhead volume variance: