Question: Answer the following question [always specify if a variance is (F) or (U)] DM Questions: 1. What is the standard quantity (SQ) (gallons) of

Answer the following question [always specify if a variance is (F) or (U)] DM Questions: 1. What is the standard quantity (SQ) (gallons) of paint that was budgeted to paint the 600,000 SF? 2. Determine the material price variance (MPV). 3. Was the MPV favorable or unfavorable? 4. Determine the material quantity variance (MEV). 5. Was the MEV favorable or unfavorable? 6. Determine the Total Material Variance. 7. Was the Total Material Variance favorable or unfavorable? DL Questions: 8. What were the standard hours (SH) that were budgeted to paint the 600,000 SF? 9. Determine the labor rate variance (LPV). 10. Was the LPV favorable or unfavorable? 11. Determine the labor efficiency variance (LEV). 12. Was the LEV favorable or unfavorable? 13. Determine the Total Labor Variance. 14. Was the Total Labor Variance favorable or unfavorable? OH Questions: 15. Determine the variable overhead spending/price variance. 16. Was the variable overhead spending/price variance favorable or unfavorable? 17. Determine the variable overhead efficiency variance. 18. Was the variable overhead efficiency variance favorable or unfavorable? 19. Determine the Total Variable Overhead Variance. 20. Was the Total Variable Overhead Variance favorable or unfavorable?

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