Question: please help and be detailed with your steps Chapter 10 In class problem : Calculate Variances The following data relate to the operations of Rudolph
Chapter 10 In class problem : Calculate Variances The following data relate to the operations of Rudolph Company for Aug, during which 4,500 finished units were produced. Total ACTUAL costs $28,200 STANDARD Total unit costs Direct Materials: Standards (0.6 lb. @ $5.40 $9.00/1b.) Actual (3,000 lb. @$9.40/lb.) Direct Labor: Standard (0.8hr. @$12.80/hr.) 10.24 Actual (3,800 hrs. @$12.50/hr.) Variable overhead: Standard (0.8 hr. @7.50/hr.) 6.00 Actual 47,500 30,100 Required: Determine the following variances and indicate whether each is favorable or unfavorable 1. Materials price variance and efficiency variance 2. Labor rate variance and efficiency variance 3. Variable overhead spending variance and efficiency variance
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