QUESTION $10$

Chege This is from a Test Corporation makes a product with the following standard costs:

Inputs

Standard Ouantity$/$Hours

Standard Price$/$Rate

Direct Materials

$5\mathrm{.}6$ Kilos

$$8\mathrm{.}00$ per Kilo

Direct Labor

$0\mathrm{.}25$ Hours

$$22\mathrm{.}00$ per hour

Variable Ovehead

$0\mathrm{.}25$ Hour

$$2\mathrm{.}00$ per hour

The company reported the following results concerning this product in October.

Actual Output

Purchase of raw materials

Actual direct labor$-$hours

Raw materials used in production

Cost of raw materials

Cost of direct labor

Actual variable overhead rate

$8\mathrm{.}400$

units

$47,775$

$2,225$

$45\mathrm{.}500$

$$294,210$

$$501\mathrm{.}680$

$$1\mathrm{.}80$

kilos

hours

kilos

Total

Total

per hour

The materials prioe variance is recognized when materials are purchased. Variable overhead is applied on the basis of direct labor$-$hours.

Required $($Answers should not includes special characters like negative signs or commas. Answers should be in the format $5000$ F or $5000$ U $)$:

$$ Compute the materials quantity variance.

$$ Compute the materials price variance.

$$ Total Material Variance

$$ Compute the labor efficiency variance.

$$ Compute the direct labor rate variance.

$$ Total Labor Variance

$$ Compute the variable overhead efficiency variance.

$$ Compute the variable overhead rate variance.

$$ Total Variable Ovemead Variance