SOLUTION
A. Total materials variance = Actual material cost - (Standard quantity * Standard cost)
= $27,816 - (4,400*$6)
= $27,816 - $26,400 = $1,416 U
Materials price variance = (Actual quantity * Actual price) - (Actual quantity * Standard price)
= $27,816 - (4,560*$6)
= $27,816 - $27,360 = $456 U
Materials quantity variance = (Actual quantity * Standard price) - (Standard quantity * Standard price)
= (4,560*$6) - (4,400*$6)
= $27,360 - $26,400 = $960 U
Total labor variance = Actual labor cost - (Standard hours * Standard rate)
= $26,355 - (2,200*$12.35)
= $26,355 - $27,170 = $815 F
Standard hours = 4,400*0.50 = 2,200
Labor rate variance = (Actual hours * Actual rate) - (Actual hours *Standard rate)
= $26,355 - (2,100 * $12.35)
= $26,355 - $25,935 = $420 U
Labor quantity variance = (Actual hours * Standard rate) - (Standard hours *Standard rate)
= (2,100 * $12.35) - (2,200*$12.35)
= $25,935 - $27,170 = $1,235 F
B. Total overhead variance = Actual overhead - Overhead Applied
= ($21,558 + $11,142) - (2,200 * $14)
= $32,700 - $30,800
= 1,900 U
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