you have a business fabricating FNs out of whole cloth. Each FN should take 10 yards of WC. You expect to pay 20 dollars per yard of WC.

During 2022 you fabricated 190 FNs and used 1890 yards of WC, which cost 39,000 dollars (there is no change in WC inventory.- what you buy is what you use)

Calculate the usage and price variances of whole cloth for 2022

how much will COGS change, and in what direction, when these variances are closed out?

During 2022 you incurred 3000 direct labor hours at a cost of 45400 dollars while manufacturing the 190 FNs. the standard DLH quantity is 15 DLH per FN. the standard rate per DLH is 16 dollars.

calculate the efficiency and rate variances for direct labor used in 2022.

how much will COGS change, and in what direction, when these variances are closed out?