Smyer Corporation makes a product with the following standard costs: Standard Cost per unit Direct materials Direct labo

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Smyer Corporation Makes A Product With The Following Standard Costs Standard Cost Per Unit Direct Materials Direct Labo 1 (79.08 KiB) Viewed 76 times

2). Compute the materials quantity variance.
3). Compute the materials price variance
4). Compute the Standard hours of labor used based on the
Actual output units
5). Compute the labor efficiency variance.
6) Compute the labor rate variance.
7). Compute the variable overhead efficiency variance.
8).Comput the variable overhead rate variance.
Smyer Corporation makes a product with the following standard costs: Standard Cost per unit Direct materials Direct labor Variable overhead Standard Quantity or Hours 7.1 pounds 0.8 hours 0.8 hours Standard Price or Rate $5.00 per pound $17.00 per hour $7.00 per hour $35.50 $13.60 $5.60 The company reported the following results concerning this product in July. 4,700 units Originally budgeted output units Actual output units 4,500 units Actual direct labor-hours 3,610 hours 36,500 pounds Actual purchases and usage of raw materials Actual price of raw materials Actual direct labor rate $5.10 per pound $18.10 per hour Actual variable overhead rate $6.70 per hour