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XYZ Company reported the following information regarding its single product for May: Direct materials : Price variance ................. $5,000 favorable Quantity variance .............. $16,320 unfavorable
XYZ Company reported the following information regarding its single product for May:Direct materials: Price variance ................. $5,000 favorable Quantity variance .............. $16,320 unfavorable Direct materials used .......... 40,000 pounds Direct materials purchased ..... 50,000 pounds Actual price paid .............. $5 per pound Standard quantity .............. 8 pounds per unitDirect labor: Total variance ................. $20,150 unfavorable Actual rate .................... $13 per hour Standard rate .................. $15 per hour Standard hours ................. 0.65 hours per unitVariable overhead: Total variance ................. $9,030 unfavorable Spending variance .............. $27,150 favorable Standard hours ................. 0.65 hours per unit
Calculate the actual variable overhead cost incurred during May. Do not use decimalsin your answer.
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