Reference no: EM132591074
Harvey Inc. manufactures Product S for national distribution. The standard costs for the manufacture of Product S is as follows:
Standard Costs Actual Costs
Direct materials 1,500 pounds at $35 1,600 pounds at $32
Direct labor 4,800 hours at $11 4,500 hours at $11.80
Factory overhead Rates per labor hour,
based on 100% of normal
5,500 labor hours:
Variable costs $2.40 $12,300 variable cost
Fixed costs, $3.50 $19,250 fixed cost
Question 1: Determine the controllable variance, volume variance, and total factory overhead cost variance for Product
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