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XYZ Manufacturing's standard cost card for one unit of product includes: Direct materials $50, Direct labor (8 hours at $15 per hour), and Factory overhead
XYZ Manufacturing's standard cost card for one unit of product includes: Direct materials $50, Direct labor (8 hours at $15 per hour), and Factory overhead (based on direct labor hours, 8 hours per unit). During June, the company produced 5,000 units, and actual costs were: Direct materials $240,000, Direct labor $375,000, and Factory overhead $400,000. Calculate the total variance and break it down into material, labor, and overhead variances.
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