Reference no: EM132591071
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 quantity variance, price variance, and total direct material cost variance for Product S
Question 2: Determine the time variance, rate variance, and total direct labor cost variance for Product S