sheffield Cost Element

Standard $($per unit$)$

Direct

materials

Direct labor

Overhead

$10$ yards at $$4\mathrm{.}90$ per yard

$1\mathrm{.}10$ hours at $$14\mathrm{.}00$ per hour

$1\mathrm{.}10$ hours at $$6\mathrm{.}60$ per hour $($fixed $$4\mathrm{.}00$; variable

$$2\mathrm{.}60)$

Actual

$$481,750$ for $102,500$ yards $($$$4\mathrm{.}70$ per yard$)$

$$173,316$ for $12,120$ hours $($ $$14\mathrm{.}30$ per hour$)$

$$48,800$ fixed overhead $$37,500$ variable

overhead

Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $$66,000,$ and budgeted

variable overhead was $$42,900.$

$($a$)$

Compute the total, price, and quantity variances for $(1)$ materials and $(2)$ labor. $($Round per unit values to $2$ decimal places, e$.$g$.52\mathrm{.}75$ and

final answers to $0$ decimal places, e$.$g$.52.)$

$(1)$ Total materials variance $

Materials price variance $

Materials quantity variance $

$(2)$ Total labor variance

$

Labor price variance

$

Labor quantity variance

$

$($b$)$

Compute the total overhead variance.

Total overhead variance $