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with equation please, thank you! Pronghorn Company has developed the following standard costs for its product for 2022 : The company expected to produce 31,300
with equation please, thank you!
Pronghorn Company has developed the following standard costs for its product for 2022 : The company expected to produce 31,300 units of Product A in 2022 using 93,900 direct labor hours. Actual results for 2022 are as follows: - 32,310 units of Product A were produced. - Actual direct labor costs were $778,180 for 94,900 direct labor hours worked. - Actual direct materials purchased and used during the year cost $364,375 for 132,500 pounds. - Actual variable overhead incurred was $163,000 and actual fixed overhead incurred was $212,000 Compute the following variances showing all computations to support your answers. Indicate whether the variances are favorable or unfavorable. (a) Materials Quantity Variance $ (b) Total Direct Labor Variance $ (c) Direct Labor Quantity Variance \$ (d) Direct Materials Price Variance \$ (e) Total Overhead Variance \$Step by Step Solution
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