Standard costs: budgeted units of production - 16,000 [80% (or normal) capacity] standard labor hours per unit - 4 standard labor rate - $26 per hour standard material per unit - 8 lbs. standard material cost - $12 per pound standard variable overhead rate - $15 per labor hour budgeted fixed overhead - $640,000 fixed overhead rate is based on budgeted labor hours at 80% (or normal) capacity. actual cost: actual production - 16,500 units actual material purchased and used - 130,000 pounds actual total material cost - $1,600,000 actual labor - 65,000 hours actual total labor costs - $1,700,000 actual variable overhead - $1,000,000 actual fixed overhead - $640,000
determine: (a) the quantity variance, price variance, and total direct materials cost variance; (b) the time variance, rate variance, and total direct labor cost variance; and (c) the volume variance, controllable variance, and total factory overhead cost variance.