Computation of Variances and Other Missing Data The following data for O'Keefe Company pertain to the production of 300 units of Product X during December. Selected data items are omitted. Fill in the missing amounts.
Direct materials (all materials purchased were used during period)
Standard cost per unit: AnswerIncorrect
pounds at $3.20 per pound
Total actual cost: AnswerIncorrect
pounds costing $5,676
Standard cost allowed for units produced: $5,760
Materials price variance:
Materials quantity variance: $128 U
Direct labor
Standard cost: 2 hours at $7.00
Actual cost per hour: $7.25
Total actual cost:
Labor rate variance:
Labor efficiency variance: $140 U
Variable overhead
Standard costs:
hours at $4.00 per direct labor hour
Actual cost: $2,250
Variable overhead spending variance:
Variable overhead efficiency variance: