Bullseye Company manufactures dartboards. Its standard cost information follows:

Bullseye has the following actual results for the month of September:
Number of units produced and sold ....... 140,000
Number of square feet of corkboard used ..... 360,000
Cost of corkboard used ............ $ 756,000
Number of labor hours worked ....... 148,000
Direct labor cost ............ $1,938,800
Variable overhead cost ........... $ 72,000
Fixed overhead cost ........... $ 50,000

Required:
Calculate the following for Bullseye:
1. Direct materials price, quantity, and spending variances.
2. Direct labor rate, efficiency, and spending variances.
3. Variable overhead rate, efficiency, and spendingvariances.

Transcribed Image Text:

Standard Price Standard Quantity Standard Unit Cost (Rate) Direct materials (cork board) Direct labor Variable manufacturing overhead 2.5 sq. ft. 1 hr 1 hr $ 2.00 per sq. ft. $14.00 per hr $0.50 per hr 5.00 14.00 0.50 based on direct labor hours) Fixed manufacturing overhead 0.25 $40,000160,000 units)