Woods, Inc.'s budget included the following overhead costs for the current year assuming operations at 80% of

Question:

Woods, Inc.'s budget included the following overhead costs for the current year assuming operations at 80% of capacity, or 40,000 units:

The standard cost per unit when operating at this same 80% capacity level is:

The actual production achieved in the current year was 60% of capacity, or 30,000 units. The actual costs were:

Calculate the following variances and indicate whether each is favorable or unfavorable.

Direct materials:
Price variance________________
Quantity variance________________
Direct labor:
Rate variance________________
Efficiency variance________________
Variable overhead:
Spending variance________________
Efficiency variance________________
Fixed overhead
Spending variance________________
Volume variance________________