View Policies Show Attempt History Current Attempt in Progress Soriano Manufacturing Company uses a standard cost accounting system to account for the manufacturing of exhaust fans. In July 2020. it accumulates the following data for 1.540 units started and finished: Cost and Production Data Actual Standard Raw materials Units purchased 21,200 21,200 Units used 21,900 Unit cost $3.40 $3.00 Direct labour Hours worked 3.520 3,600 Hourly rate $11.65 $12.20 Manufacturing overhead Incurred $99.700 Applied $108,000 Manufacturing overhead was applied based on direct labour hours. Normal capacity for the month was 3,400 direct labour hours. At normal capacity, budgeted overhead costs were $20 per labour hour variable and $10 per labour hour fixed. Total budgeted fixed overhead costs were $34,000. Jobs finished during the month were sold for $280,900. Selling and administrative expenses were $24.400. (a) Your answer is correct. Calculate all of the variances for direct materials and direct labour. Total materials variance $ 6380 i Unfavourable V Materials price variance $ 8480 i Unfavourable Materials quantity variance $ 2100 Favourable Total labour variance $ 2912 Favourable Labour price variance $ 1936 1 Favourable Labour quantity variance $ 976 Favourable e Textbook and Media List of Accounts Attempts: 1 of 2 used (b) Your answer is correct. Calculate the total manufacturing overhead variance. Total overhead variance $ 8300 Favourable e Textbook and Media List of Accounts Attempts: 1 of 2 used (c) Calculate the overhead budget variance and the overhead volume variance. Overhead budget variance $ Overhead volume variance $