masters co applies on overhead using machine hours and reports the following i

masters co applies on overhead using machine hours and reports the following information compute the total variable overhead cost variance.

actual machine hours used 4950 hours

standard machine hours 5000 hours

actual variable overhead rate per hour $4.10

standard variable overhead rate per hour $4.00

2) ten pro reports the following on one of its products compute the direct materials price and quantity variances.

direct materials standard (4lbs@$2/lb) $8 per finished unit

actual direct materials used 150000lbs

actual finished units produced 30000 units

actual cost of direct materials used $267500