Variance Computations with Missing Data: The following information is provided to assist you in evaluating the performance of the manufacturing operations of the Madison Company:

Variable overhead is applied on the basis of direct labor-hours.

Required: Prepare a table to show all variable manufacturing cost price and efficiency variances and fixed manufacturing cost price and production volume variances.

Units produced (actual) Master production budget: Direct materials Direct labor Overhead Standard costs per unit Direct materials Direct labor Variable overhead Actual costs: Direct materials pur- chased and used Direct labor Overhead 21,000 $165,000 140,000 199,000 $1.65 x 5 pounds per unit of output $14 per hour x hour per unit $11.90 per direct labor hour $188,700 (102,000 pounds) 140,000 (10,700 hours) 204,000 (61% is variable)