Standard Cost Material 3lbs $2.00 Labor 2hrs 4.00 Overhead: Variable 2

Standard Cost

Material 3lbs $2.00

Labor 2hrs 4.00

Overhead: Variable 2hrs 1.00

Fixed 2hrs 2.00

Stabdard cost for one completed unit

Maerial $6.00

Labor 8.00

Overhead : Varibale 2.00

Fixed 4.00

total : 20.00

Budgeted activity: 50 standard direct labor hours

Acutal data

Units produced 20

Material- Actual usgae = 100 pounds at a total cost of $225

Labor- actual hours 30 at $4.10

Overhead: Variable $45

fixed $115

Compute the following variances

1. Material price

2. Material quantity

3. Labor rate

4. Labor quanity

5. total net overhead variance

6. variabke overhead spending variance

7. Variable overhead efficiency variance

8. fixed overhead budgeted variance

9 fixed overhead volume variance

10 fixed overhead denominator variance (two way anaysis of overhead)

11. Fixed overhead controllable (budget) variance (two-way analysis of overhead)

12. Volume variance (three way analysis of overhead)

13. efficiency variance (three way analysis of ovehead)

14. Spending variance (three wat analysis of overhead)