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

Road Gripper Tire Co$.$ manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of $4,160$ tires were as follows:

Each tire requires $0\mathrm{.}5$ hour of direct labor.

Required:

Price variance

Quantity variance

Total direct materials cost variance

$

$!$

$

Rate variance

Time variance

Total direct labor cost variance

$

$!$

$$

number.

Variable factory overhead controllable variance $

Fixed factory overhead volume variance

Total factory overhead cost variance

s

$