Actual Cost of Direct Materials $ 225,000 Standard Cost of Direct Materials $ 224,800 Actual Materials Used 30 Standard Materials Used 31 Actual Direct Labor Rate Standard Labor Rate ՄՌ Դ Actual Hours Worked $ 15.50 $ 15.00 45 Standard Hours Worked 40 40 Calculate Materials Variances: Materials Price Variance Materials Quantity Variance Calculate Labor Variances: Labor Rate Variance Labor Efficiency Variance Amount Favorable/ Unfavorable

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Print Item Acme Inc. has the following information available: Actual price paid for material $1.00 Standard price for material $1.10 90 Actual quantity purchased and used in production 110 Standard quantity for units produced Actual labor rate per hour $15 Standard labor rate per hour $16 Actual hours 200 230 Standard hours for units produced A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all amounts as positive numbers. Material price variance Material quantity variance Labor rate variance Labor efficiency variance 2$ B. What are some possible causes for this combination of favorable and unfavorable variances?

Direct Material Direct Labor Standard Cost Data per 1 Unit Quantity Price 3 lbs $2.00/lb 2 hrs $4.00/hr Actual Data: Units produced Material purchase & usage Direct Labor Show all computations. 25 100 lbs at $2.20 per lb 30 hrs; total cost $129 a) Compute price variance, quantity variance, direct material variance b) Compute rate variance, efficiency variance, direct labor variance

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Standard Cost Variance Analysis - Direct Materials Standard Quantity Allowed for Actual Output at Standard Price $89,100 Actual Quantity of Input, at Standard Price $111,375 Actual Quantity of Input, at Actual Price $109,350 Materials quantity variance $22,275 Unfavorable Materials price variance $2,025 Favorable Standard Cost Variance Analysis - Direct Labor Standard Hours Allowed for Actual Output at Standard Rate Actual Hours of Input, at Standard Rate Actual Hours of Input, at Actual Rate Labor efficiency variance Labor rate variance Standard Cost Variance Analysis - Variable Manufacturing Overhead Standard Hours Allowed for Actual Output at Standard Rate $145,800 $121,500 $148,500 $24,300 Favorable $27,000 Unfavorable Actual Hours of Input, at Standard Rate Actual Hours of Input, at Actual Rate Variable overhead efficiency variance Variable overhead rate variance $56,700 $47,250 $47,925 $9,450 Favorable $675 Unfavorable