Williams Company has developed the following standard costs for its product for 2016:

WILLIAMS COMPANY

Standard Cost Card

Product A

Cost Element Standard Quantity Standard Price = Standard Cost

Direct materials 4 pounds $4 $16

Direct labor 3 hours 6 18

Manufacturing overhead 3 hours 3 9

$43

The company expected to produce 30,000 units of Product A in 2017 and work 90,000 direct labor hours.

Actual results for 2017 are as follows:

• 31,000 units of Product A were produced.
• Actual direct labor costs were $746,200 for 91,000 direct labor hours worked.
• Actual direct materials purchased and used during the year cost $480,000 for 128,000 pounds.
• Actual variable overhead incurred was $105,000 and actual fixed overhead incurred was $205,000.

	How much is materials quantity variance?
	How much is labor quantity variance?
	How much is materials price variance?
	How much is total overhead variance?