Compute all six variances and for each of them determine

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The following information is given about the unit standard costs:

Direct materials (2 kg at $ 0.5 per kg) =$1

Direct labor (0.5 h at $ 6 per hour) = $3

Variable production overhead (0.5 h at $ 8 per hour ) =$ 4

During the last year the following transactions occurred:

Raw materials purchased and used (36,700 kg) = $16,882

Direct labor (9,100 h) = $58,240

Variable production overhead = $74,600

Units produced = 18,000

Question 1: Compute all six variances and for each of them determine if they are favored or adverse.

Reference no: EM132500533

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