Calculating Direct Materials, Direct Labor, Variable Manufacturing Overhead
Darting Around Company manufactures dartboards. Its standard cost information follows:
| Standard Quantity | Standard Price (Rate) | Standard Unit Cost |
Direct costs |
|
|
|
Cork board | 2.5 sq. ft. | $ 2.00 per sq. ft. | $ 5.00 |
Direct labor | 1 hr. | 14.00 per hr. | 14.00 |
Variable manufacturing overhead |
| .50 per direct labor hour | 0.50 |
Fixed manufacturing overhead ($20,000/80,000 units) |
|
| 0.25 |
Darting Around has the following actual results for the month of September:
Number of units produced and sold | 70,000 |
Number of square feet of corkboard used | 180,000 |
Cost of corkboard used | $378,000 |
Number of labor hours worked | 75,000 |
Direct labor cost | $975,000 |
Variable overhead cost | $ 36,000 |
Fixed overhead cost | $ 25,000 |
Required:
Calculate the following for Darting Around:
1.Direct materials price, quantity, and total spending variances.
2. Direct labor rate, efficiency, and total spending variances.
3. Variable overhead rate, efficiency, and total spending variances.
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