Vitalite Inc produces a number of products, including a body wrap kit. Standard costs relating to a single kit are as follows. (PLEASE SHOW WORK SO I CAN LEARN HOW YOU GOT THE ANSWER! THANK YOU IN ADVANCE!!)

	Standard QUantity or Hours	Standard Price or Rate	Standard Cost
Direct Materials	?	$8 per yard	$?
Direct Labor	?	?	?
Variable Manufacturing overhead	?	$4 per direct labor hour	?
Total Standard cost per kit			$49

During August, 600 kits were manufactured and sold. Selected information relating to the months production is given below:

	Materials Used	Direct Labor	Variable Manufacturing Overhead
Total Standard Cost*	?	$7,000	$2,000
Actual costs incurred	$13,000	?	$2,020
Materials Price Variance	?
Materials Quantity Variance	$400U
Labor rate variance		?
Labor efficiency Variance		?
Variable overhead rate variance			?
Variable overhead efficiency variance			?

*For the month's production

The following additional information is available for August's production of kits:

Actual direct labor hours 600

Difference btwn standard and actual cost per kit during August $0.19 U

Required:

1. What is the total standard cost for the materials used during August?

Standard Cost $_______________

2. How many yards of material are required at standard per kit? (Do not round intermediate calculations. Round your final answer to 2 decimal places)

Number of Yards ____________yards per kit

3. What was the materials price variance for August if there were no beginning or no ending inventories of materials? (Input the amount as positive value. Do not round your intermediate calculations, do not leave blank- be certain to enter "0" wherever required. Indicate the effect of variance by selecting "F" for favorable, "U" for unfavorable, and "none" for no effect (ie.,zero variance.)

Material Price Variance $________________

4. What is the standard direct labor rate per hour?

Standard direct labor rate $________________

5. What was the labor effciency variance for August? The labor rate variance? (Input the amount as positive value. Do not round your intermediate calculations, do not leave blank- be certain to enter "0" wherever required. Indicate the effect of variance by selecting "F" for favorable, "U" for unfavorable, and "none" for no effect (ie.,zero variance.)

Labor efficiency Variance $__________________ U or F?

Labor rate variance $__________________ U or F?

6. What was the variable overhead efficiency variance for August? The variable overhead rate variance?(Input the amount as positive value. Do not round your intermediate calculations, do not leave blank- be certain to enter "0" wherever required. Indicate the effect of variance by selecting "F" for favorable, "U" for unfavorable, and "none" for no effect (ie.,zero variance.)

Variable overhead efficiency variance $_______________ U or F?

Variable overhead rate variance $________________ U or F?

7. Complete the standard cost card for one kit shown at the beginning of the problem. (Round your answers to 2 decimal places.)

	Standard Quantity or hours per kit	Standard Price or rate	Standard cost per kit
Direct Materials	___________yards	$8 per yard	$___________
Direct Labor	___________hours	$______per hour
Variable manufacturing overhead	___________hours	$______per hour
Total Standard cost per kit			$49.00