Kartman Corporation makes a product with the following standard costs: Standard Quantity Standard Cost or Hours 6.5 pounds Standard Price or Rate Per Unit $ 7.00 per pound $ 24.00 per hour $ 4.00 per hour $ 45.50 $ 14.40 Direct materials Direct labor 0.6 hours Variable overhead 0.6 hours $ 2.40 In June the company's budgeted production was 3,400 units but the actual production was 3,500 units. The company used 22,150 pounds of the direct material and 2,290 direct labor-hours to produce this output. During the month, the company purchased 25,400 pounds of the direct material at a cost of $170,180. The actual direct labor cost was $57,021 and the actual variable overhead cost was $8,931. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for June is:

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 6 pounds at $8 per pound $ 48 Direct labor: 4 hours at $17 per hour 68 Variable overhead: 4 hours at $4 per hour 16 Total standard cost per unit $ 132   The planning budget for March was based on producing and selling 19,000 units. However, during March the company actually produced and sold 24,000 units and incurred the following costs: Purchased 160,000 pounds of raw materials at a cost of $7.20 per pound. All of this material was used in production. Direct laborers worked 72,000 hours at a rate of $18 per hour. Total variable manufacturing overhead for the month was $336,960. 1.  What is the materials quantity variance for March? indicate whether F or U 2. If Preble had purchased 187,000 pounds of materials at $7.20 per pound and used 160,000 pounds in production, what…

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows:       Direct materials: 5 pounds at $11 per pound $ 55 Direct labor: 3 hours at $12 per hour   36 Variable overhead: 3 hours at $7 per hour   21 Total standard cost per unit $ 112     The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,600 units and incurred the following costs:   Purchased 154,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production. Direct laborers worked 63,000 hours at a rate of $13 per hour. Total variable manufacturing overhead for the month was $510,930.   Questions: A) 3. What is the materials price variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no…

Valera Corporation makes a product with the following standards for labor and variable overhead: Direct labor Variable overhead Standard Quantity Standard Price or Standard Cost Per or Hours 0.4 hours 0.4 hours Rate $21.00 per hour. $ 6.00 per hour Unit $8.40 $2.40 The company budgeted for production of 5,300 units in July, but actual production was 5,400 units. The company used 2,130 direct labor-hours to produce this output. The actual variable overhead rate was $6.10 per hour. The company applies variable overhead on the basis of direct labor-hours. The variable overhead rate variance for July is: