Your company has forecasted 400 units of product 'A'
1	Expected material usage for product 'A' is 1 foot of material per unit
2	Expected material price for each unit of product 'A' is $5 per foot
3	Expected labor hours for product 'A' is 3 hours per unit
4	Expected labor rate for product 'A' is $20 per hour
5	Expected variable labor efficiency is $2
6	Variable overhead is apportioned using direct labor hours
7	Budgeted fixed overhead was $30,000 for the year
8	Budgeted volume was 10,000 units for the year
Your company actually produced 500 units of product 'A'
7	Actual material usage for product 'A' was 1.5 feet of material per unit
8	Actual material price for product 'A' was $7 per foot
9	Actual labor hours for product 'A' was 2 per unit
10	Actual labor rate for product 'A' was $10 per hour
11	Total spend on fixed manufacturing overhead was $25,000 for the year
12	Total direct labor hours were 8,000 for the year
13	Actual volume was 12,000 units for the year

Requirement

Calculate the total usage variance and give one reason why this variance may have arisen

Calculate the total purchase price variance and give one reason why this variance may have arisen

Calculate the labor rate variance and give one reason why this variance may have arisen

Calculate the labor efficiency variance and give one reason why this variance may have arisen

Calculate the variable overhead efficiency variance and give one reason why this variance may have arisen

Calculate the variable overhead spending variance and give one reason why this variance may have arisen

Calculate the pre-determined manufacturing overhead rate

Calculate the fixed manufacturing budget variance and give one reason why this variance may have arisen

Calculate the fixed manufacturing volume variance and give one reason why this variance may have arisen