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The following data relates to Koontz Corporation's operations for the month. 1,000 finished units of product...

The following data relates to Koontz Corporation's operations for the month. 1,000 finished units of product were produced and the normal monthly capacity is 2,200 direct labor hours.

Standard Unit Costs

Total Actual Costs

Direct Material:

         Standard (2 lb. @ $10/lb.)

$20

         Actual (2,200 lb. @ $9.80/lb.)

$21,560

Direct Labor:

        Standard (2 hr. @ $20/hr.)

$40

        Actual (2,400 hrs. @ $20.20/hr.)

$48,480

Variable Overhead:

        Standard (0.5 hr. @ $4/hr.)

$2

        Actual

$8,700

               Total

$62

$78,740

What is the materials price variance?

What is the materials efficiency variance?

What is the labor rate variance?

What is the labor efficiency variance?

What is the variable overhead spending rate variance?

What is the variable overhead efficiency variance?

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Expert Solution

ekkarill92 answered 2 years ago
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