Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are

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Waterways Corporation uses very stringent standard costs in
evaluating its manufacturing efficiency. These standards are not
“ideal” at this point, but the management is working toward that as
a goal. At present, the company uses the following standards.
The January figures for purchasing, production, and labor are:
Answer the following questions about standard costs.
What is the materials price variance? (Round
per unit calculations to 2 decimal places, e.g. 1.25 and final
answer to 0 decimal places, e.g. 125.)
What is the materials quantity variance? (Round
per unit calculations to 2 decimal places, e.g. 1.25 and final
answer to 0 decimal places, e.g. 125.)
What is the total materials variance? (Round
per unit calculations to 2 decimal places, e.g. 1.25 and final
answer to 0 decimal places, e.g. 125.)
What is the labor price variance? (Round per
unit calculations to 2 decimal places, e.g. 1.25 and final answer
to 0 decimal places, e.g. 125.)
What is the labor quantity variance? (Round per
unit calculations to 2 decimal places, e.g. 1.25 and final answer
to 0 decimal places, e.g. 125.)
What is the total labor variance? (Round per
unit calculations to 2 decimal places, e.g. 1.25 and final answer
to 0 decimal places, e.g. 125.)
What is the total overhead variance? (Round per
unit calculations to 2 decimal places, e.g. 1.25 and final answer
to 0 decimal places, e.g. 125.)