## Answers

**Solution a:**

Direct Material Cost Variance | ||||||||||||

Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||||

AQ * | AP = | AQ * | SP = | SQ * | SP = | |||||||

8700 | $4.70 | $40,890.00 | 8700 | $4.80 | $41,760.00 | 8800 | $4.80 | $42,240.00 | ||||

-$870.00 | F | -$480.00 | F | |||||||||

Direct Material Price Variance | Direct Material Qty variance | |||||||||||

Direct material price variance | -$870.00 | F | ||||||||||

Direct material quantity variance | -$480.00 | F | ||||||||||

Direct material cost variance | -$1,350.00 | F |

**Solution b:**

Direct Labor Cost Variance | ||||||||||||

Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||||

AH * | AR = | AH * | SR = | SH * | SR = | |||||||

1740 | $16.50 | $28,710.00 | 1740 | $16.10 | $28,014.00 | 1700 | $16.10 | $27,370.00 | ||||

$696.00 | U | $644.00 | U | |||||||||

Direct Labor rate Variance | Direct Labor Efficiency Variance | |||||||||||

Direct Labor Rate variance | $696.00 | U | ||||||||||

Direct Labor Efficiency variance | $644.00 | U | ||||||||||

Direct labor cost variance | $1,340.00 | U |

**Solution c:**

Variable factory overhead controllable variance = Actual cost of variable overhead - Standard cost of variable overhead

= $7,410 - (1700*$4.40) = - $70 F

Fixed factory overhead volume variance = Budgeted fixed overhead - Fixed overhead applied

= $12,390 - (1700 * $7) = $490 U

Total factory overhead cost variance = - $70 F + $490 U = $420 U

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