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The following information is provided to assist you in evaluating the performance of the production operations...

The following information is provided to assist you in evaluating the performance of the production operations of Studio Company: Units produced (actual) 63,000 Master production budget Direct materials $125,400 Direct labor 106,400 Overhead 182,400 Standard costs per unit Direct materials $1.65 × 2 gallons per unit of output Direct labor $14 per hour × 0.2 hour per unit Variable overhead $14.00 per direct labor-hour Actual costs Direct materials purchased and used $176,050 (100,600 gallons) Direct labor 135,953 (10,580 hours) Overhead 183,200 (61% is variable) Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

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ekkarill92 answered 1 year ago
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