The Hayes Chemical Company produces a chemical used in dry cleaning. Its accounting system uses standard costs. The stan

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The Hayes Chemical Company produces a chemical used in dry
cleaning. Its accounting system uses standard costs. The standards
per 0.50-gallon can of chemical call
for 1.10 gallons of material and 1.40 hours of
labor. (1.10 gallons of material are needed to produce
a 0.50-gallon can of product due to evaporation.) The standard
cost per gallon of material is $7. The standard cost per hour for
labor is $8. Overhead is applied at the rate of $7.06 per can.
Expected production is 18,600 cans with fixed overhead
per year of $38,316 and variable overhead of $5 per unit
(a 0.50-gallon can).

During 2021, 25,300 cans were
produced; 38,200 gallons of material were purchased at a
cost of $252,502; 32,800 gallons of material were used in
production. The cost of direct labor incurred in 2021 was
$288,743 based on an average actual wage rate of
$8.52 per hour. Actual overhead for 2021 was $220,700.
Determine the standard cost per unit. (Round
answer to 2 decimal places, e.g. 15.25.)
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Calculate material, labor, and overhead
variances. (Round intermediate calculations to 2
decimal places, e.g. 14.37 and final answers to 0 decimal places,
e.g. 125. Enter all variances as a positive
number.)
Material Price Variance
Material Quantity Variance
Labor Rate Variance
Labor Efficiency Variance
Controllable Overhead Variance
Overhead Volume Variance