The following data was compiled from the financial records for the month of May Standard Actual,

Direct Materials Price $7.25 $7.46 Direct Materials Quantity 8,000 7,895 Direct Labor Rate $38.00 $35.50 Direct Labor Quantity 4,300 4,588.

Required:

a. show the Direct Material Cost Variances . In Excel, set columns about 15 wide to create the same framework. Put an F for favorable or U for unfavorable under each of the variance dollars. Don't forget that variances always show as positive numbers.

b. show the Direct Labor Cost Variances. In Excel, set columns about 15 wide to create the same framework. Put an F for favorable or U for unfavorable under each of the variance dollars. Don't forget that variances always show as positive numbers.