C D E F G H I J K L M N O P 4. (15 points) Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. 1 2 Standard Quantity or Hours per Unit Standard Price 3 Inputs of Output or Rate Direct materials 8 ounces 6.1 per ounce Direct labor 0.6 hours 19.8 per hour 6 Variable manufacturing overhead 0.6 hours $ 4.4 per hour 7 8. The company has reported the following actual results for the product for April: 5 12 10 Actual output 11 Raw materials purchased Actual cost of raw materials purchased 13 Raw materials used in production 14 Actual direct labor-hours 15 Actual direct labor cost 16 Actual variable overhead cost 5,600 units 48,200 ounces 279,560 44,810 ounces 3,150 hours 64,890 12,915 17 18 Required: 19 a. Compute the materials price variance for April. 20 b. Compute the materials quantity variance for April. 21 c. Compute the labor rate variance for April. 22 d. Compute the labor efficiency variance for April. 23 e. Compute the variable overhead rate variance for April. 24 f. Compute the variable overhead efficiency variance for April. 25 26 Answers