Raw materials used in production Assignment | College Homework Help

badboard/content/Contentsplcune – 63990 1content id-13107241&modes reset She makes a product with the following standard costs Standard Quantity or Hours Standard Price or Rate Direct materials 74 grams $8.00 per gram Durect labor 03 hours $16.00 per hour Variable overhead 03 hours $7.00 per hour The company reported the following results concerning this product in July Actual output 2.200 Raw materials used in production 16,420 Purchases of raw materials 17.900 Actual direct labor-hours 720 Actual cost of raw materials purchases 5141410 Actual direct labor cost 512528 The company overhead on the basis of orect labor hours. The direct materials purchases variance is computed whethe r е е с Required: A) Compute the materials quantity variance. B) Compute the materials price variance. c) Compute the labor efficiency variance, D) Compute the labor rate variance, E) Compute the variable overhead efficiency variance. F) Compute the variable overhead rate variance.