Question 1 options:

Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Materials price variances is calculated on material purchased and materials quantity is based on Material used in production. Variable manufacturing overhead is applied to products on the basis of direct labor hours.

Inputs	Standard Quantity or Hours per Unit of Output			Standard Price or Rate
Direct materials		8.5	ounces	$	6.60	per ounce
Direct labor		0.6	hours	$	24.80	per hour
Variable manufacturing overhead		0.60	hours	$	4.90	per hour

The company has reported the following actual results for the product for April:

Actual output		6100	units
Raw materials purchased		48,700	ounces
Actual cost of raw materials purchased	$	303,010
Raw materials used in production		51,860	ounces
Actual direct labor-hours		3360	hours
Actual direct labor cost	$	86,810
Actual variable overhead cost	$	15,717

Required:

Calculate the variances below,

There are 2 answer boxes, the first box is for the numerical answer and the second is for the variance favorability identification. Enter all numbers as positive and rounded to the nearest dollar. You do not need to enter any US dollar identifier.

1. Material Price Variance

2. Materials quantity variance

3. Labor rate variance

4. Labor efficiency variance

5. Variable overhead rate variance

6. Variable overhead efficiency variance