Calculate the following variances for Dec 2021 and state whether it is favourable or unfavourable:

i) Total direct material variances

ii)Total direct labour variances

iii)Total variable overhead variances

iv)Total fixed overhead variances

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Cartier Co manufactures wooden toy vehicles. The company operates a standard costing system and values inventory at standard cost. The following is an extract of a partly completed spreadsheet for calculating variances in Dec 2021. $ per vehicle Standard Cost Card - Toy Vehicle Selling price 250 5 kgs per unit @ $7 6 hours @ $12 per hour Direct material 35 Direct labour 72 Total production overhead Variable production ovorhead Fixed production overhead 6 hours @ $5 per DLH 6 hours @ $3 per DLH 30 18 Actual and budgeted activity levels in units Budget 25,000 25,000 Actual Sales 25,600 26,000 Production Actual sales revenue and variables costs Sales 6,266,880 Direct material purchased (150,000 kgs) 1,125,000 Direct labour (150,000 hours) 1,920,000 Variable production overhead 832,000 Fixed production overhead 440,000 Additional information: Annual budgeted production capacity 300,000 units The standard production overhead costs per unit is based on direct labour hours. Based on capacity of 200,000 direct labour hours per month. Direct material used 128,000 kgs Cartier Co manufactures wooden toy vehicles. The company operates a standard costing system and values inventory at standard cost. The following is an extract of a partly completed spreadsheet for calculating variances in Dec 2021. $ per vehicle Standard Cost Card - Toy Vehicle Selling price 250 5 kgs per unit @ $7 6 hours @ $12 per hour Direct material 35 Direct labour 72 Total production overhead Variable production ovorhead Fixed production overhead 6 hours @ $5 per DLH 6 hours @ $3 per DLH 30 18 Actual and budgeted activity levels in units Budget 25,000 25,000 Actual Sales 25,600 26,000 Production Actual sales revenue and variables costs Sales 6,266,880 Direct material purchased (150,000 kgs) 1,125,000 Direct labour (150,000 hours) 1,920,000 Variable production overhead 832,000 Fixed production overhead 440,000 Additional information: Annual budgeted production capacity 300,000 units The standard production overhead costs per unit is based on direct labour hours. Based on capacity of 200,000 direct labour hours per month. Direct material used 128,000 kgs

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