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Fifth assignment

Student name:

Student number:

Galeazzi Corporation makes a product with the following standard costs:

$\backslash$table$[[,\backslash$table$[[$Standard Quantity$],[$or Hours$]],\backslash$table$[[$Standard Price$],[$or Rate$]]],[$Direct materials,$3\mathrm{.}1$ pounds,$$6\mathrm{.}00$ per pound$],[$Direct labor,$0\mathrm{.}8$ hours,$$18\mathrm{.}00$ per hour$],[$Variable overhead,$0\mathrm{.}8$ hours,$$6\mathrm{.}00$ per hour$]]$

In October the company produced $3,000$ units using $8,380$ pounds of the direct material and $2,610$ direct labor$-$hours. During the month, the company purchased $9,500$ pounds of the direct material at a total cost of $$55,100.$ The actual direct labor cost for the month was $$48,546$ and the actual variabl hoverhead cost was $$16,965.$ The company applies variable overhead on the basis of direct labor$-$hours. The direct materials purchases variance is computed when the materials are purchased.

Required:

a$.$ Compute the materials quantity variance.

b$.$ Compute the materials price variance.

c$.$ Compute the labor efficiency variance.

d$.$ Compute the labor rate variance.

e$.$ Compute the variable overhead efficiency variance.

f$.$ Compute the variable overhead rate variance.