Direct Materials, Direct Labor, and Factory Overhead Cost Variance Analysis

Standard Costs

Direct materials

Direct labor

Factory overhead

$257,400$ lbs$.$ at $$4\mathrm{.}70$ per lb$.$

$19,500$ hrs$.$ at $$16\mathrm{.}10$ per hr$.$

Rates per direct labor hr$.,$ based on $100\%$ of normal capacity of $20,350$ direct labor hrs$.$:

Variable cost, $$3\mathrm{.}60$

Fixed cost, $$5\mathrm{.}70$

Actual Costs

$254,800lbs.$ at $$4\mathrm{.}60$ per lb$.$

$19,950hrs.$ at $$16\mathrm{.}30$ per hr$.$

$$69,500$ variable cost

$$115,995$ fixed cost

Each unit requires $0\mathrm{.}25$ hour of direct labor.

Required:

Direct Materials Price Variance

Direct Materials Quantity Variance

Total Direct Materials Cost Variance

Direct Labor Rate Variance

Direct Labor Time Variance

Total Direct Labor Cost Variance

$.$

$$

$$ a positive number.

Variable factory overhead controllable variance

Fixed factory overhead volume variance

Total factory overhead cost variance $$