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)
