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question material labor and variable overhead variances the following summarized man 4293679

Question

Material, Labor, and Variable Overhead Variances The following summarized manufacturing data relate to Brown Corporation's May operations, during which 2,000 finished units of product were produced. Normal monthly capacity is 1,100 direct labor hours.

Determine the following variances:

Do not use negative signs with any of your answers. Next to each variance answer, select either “F” for Favorable or “U” for Unfavorable.

 

Standard Units Costs

 

Total Actual Costs

Direct material

 

 

 

 

 

 

 

Standard (3 lb. at $3.00/lb.)

 

 

$9

 

 

 

Actual (6,400 lb. at $3.30/lb.)

 

 

 

 

$21,120

 

Direct labor

 

 

 

 

 

 

 

Standard (0.5 hr. at $15/hr.)

 

 

$7.50

 

 

 

Actual (950 hrs. at $14.80/hr.)

 

 

 

 

14,060

 

Variable overhead

 

 

 

 

 

 

 

Standard (0.5 hr. at $5/hr.)

 

 

$2.50

 

 

 

Actual

 

 

5,300

 

Total

 

 

$19

$40,480

 

               

 

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