Material, Labor, and Variable Overhead VariancesMaterial, Labor, and Variable Overhead Variances

The following summarized manufacturing data relate to Thomas Corporation's April operations, during which $2,000$ finished units of product were produced. Normal monthly capacity is $1,100$ direct labor hours.

Determine the following variances:

Do not use negative signs with any of your answers. Next to each variance answer, select either $"$F$"$ for Favorable or $"$U$"$ for Unfavorable.

The following summarized manufacturing data relate to Thomas Corporation$$s April operations, during which $2,000$ finished units of product were produced. Normal monthly capacity is $1,100$ direct labor hours.

Standard Units Costs Total Actual Costs

Direct material

Standard $(2$ lb$.$ @ $$9\mathrm{.}00/$lb$.)$ $$18$

Actual $(4,200$ lb$.$ @ $$10\mathrm{.}20/$lb$.)$ $$42,840$

Direct labor

Standard $(0\mathrm{.}5$ hr$.$ @ $$24/$hr$.)$ $$12$

Actual $(950$ hrs$.$ @ $$23\mathrm{.}40/$hr$.)22,230$

Variable overhead

Standard $(0\mathrm{.}5$ hr$.$ @ $$6/$hr$.)$ $$3$

Actual $-6,450$

Total $$33$ $$71,520$

Determine the following variances:

Do not use negative signs with any of your answers. Next to each variance answer, select either $"$F$"$ for Favorable or $"$U$"$ for Unfavorable.

Materials Variances

Actual cost: Answer $1$

$0$

Split cost: Answer $2$

$0$

Standard cost: Answer $3$

$0$

Materials price Answer $4$

$0$

Answer $5$

U

Materials efficiency Answer $6$

$0$

Answer $7$

U

Labor Variances

Actual cost: Answer $8$

$0$

Split cost: Answer $9$

$0$

Standard cost: Answer $10$

$0$

Labor rate Answer $11$

$0$

Answer $12$

F

Labor efficiency Answer $13$

$0$

Answer $14$

F

Variable Overhead Variances

Actual cost: Answer $15$

$0$

Split cost: Answer $16$

$0$

Standard cost: Answer $17$

$0$

Variable overhead spending Answer $18$

$0$

Answer $19$

U

Variable overhead efficiency Answer $20$

$0$

Answer $21$

F