Fortes Inc. has provided the following data concerning one of the products in its standard cost system.
Variable manufacturing overhead is applied to products on the basis of direct labor-hours.
Inputs Standard Quantity or Hours per Unit of Output Standard Price or Rate
Direct materials 9.7 ounces $7.80 per ounce
Direct labor 0.4 hours $38.70 per hour
Variable manufacturing overhead 0.40 hours $6.10 per hour
The company has reported the following actual results for the product for April:
Actual output 7300 units
Raw materials purchased 49,900 ounces
Actual cost of raw materials purchased $372,350
Raw materials used in production 70,840 ounces
Actual direct labor-hours 2610 hours
Actual direct labor cost $105,800
Actual variable overhead cost $ 14,941
Required:
Enter all numbers as positive and rounded to the nearest dollar
Materials price variance $
Materials quantity variance $
Labor rate variance $
Labor efficiency variance $
Variable overhead rate variance $
Variable overhead efficiency variance $
Answers: 2
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