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