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In: Accounting

Direct materials 196,000 lbs. at $4.90 194,000 lbs. at $4.70 Direct labor 17,500 hrs. at $16.30...

Direct materials 196,000 lbs. at $4.90 194,000 lbs. at $4.70
Direct labor 17,500 hrs. at $16.30 17,900 hrs. at $16.60
Factory overhead Rates per direct labor hr.,
based on 100% of normal
capacity of 18,260 direct
labor hrs.:
Variable cost, $3.20 $55,440 variable cost
Fixed cost, $5.10 $93,126 fixed cost

Each unit requires 0.25 hour of direct labor.

Required:

a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Direct Materials Price Variance $fill in the blank 1
Direct Materials Quantity Variance $fill in the blank 3
Total Direct Materials Cost Variance $fill in the blank 5

b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Direct Labor Rate Variance $fill in the blank 7
Direct Labor Time Variance $fill in the blank 9
Total Direct Labor Cost Variance $fill in the blank 11

c. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Variable factory overhead controllable variance $fill in the blank 13
Fixed factory overhead volume variance $fill in the blank 15
Total factory overhead cost variance $fill in the blank 17

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