Reference no: EM131728106

Question - XYZ Company reported the following information regarding its single product for May:

Direct materials:

Price variance .................  $5,000 favorable

Quantity variance ..............  $16,320 unfavorable

Direct materials used ..........  40,000 pounds

Direct materials purchased .....  50,000 pounds

 Actual price paid ..............  $5 per pound

Standard quantity ..............  8 pounds per unit

Direct labor:

Total variance .................  $20,150 unfavorable

Actual rate ....................  $13 per hour

Standard rate ..................  $15 per hour

Standard hours .................  0.65 hours per unit

Variable overhead:

Total variance .................  $9,030 unfavorable

Spending variance ..............  $27,150 favorable

Standard hours .................  0.65 hours per unit

Calculate the actual variable overhead cost incurred during May. Do not use decimals in your answer.