Question: Willow Inc. has provided the following information: Standards: Per unit Direct materials 10 lb @ $3.80/lb $ 38.00 Direct labor 2 hours @ $26.50/hour 53.00

Willow Inc. has provided the following information:

Standards: Per unit
Direct materials 10 lb @ $3.80/lb $ 38.00
Direct labor 2 hours @ $26.50/hour 53.00
Variable overhead 2 hours @ $11/hour 22.00
Fixed overhead 25.00
Total $ 138.00

Budgeted production = 7,000 units

Actual results
Materials 71,360 lbs $ 269,313
Direct labor 14,550 actual hours $ 375,610
Variable overhead $ 166,610
Fixed overhead $ 171,730
Units produced 7,300 units

a. Calculate the direct materials price variance.

(1855 Favorable) b. Calculate the direct materials quantity variance. (-6232) Unfavorable c. Calculate the direct labor rate variance.

(9965) Favorable d. Calculate the direct labor efficiency variance. (1325) Favorable e. Calculate the variable overhead rate variance.

f. Calculate the variable overhead efficiency variance. g. Calculate the fixed overhead spending variance.

Did I get the ones I've answered correct, and how do I calculate the other 3?

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