Business, 11.08.2021 18:10 lauriepdx

Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.

Inputs Standard Quantity or Hours per Unit of Output Standard Price or Rate
Direct materials 9.7 ounces $7.80 per ounce
Direct labor 0.4 hours $38.70 per hour
Variable manufacturing overhead 0.40 hours $6.10 per hour

The company has reported the following actual results for the product for April:

Actual output 7300 units
Raw materials purchased 49,900 ounces
Actual cost of raw materials purchased $372,350
Raw materials used in production 70,840 ounces
Actual direct labor-hours 2610 hours
Actual direct labor cost $105,800
Actual variable overhead cost $ 14,941

Required:

Enter all numbers as positive and rounded to the nearest dollar
Materials price variance $
Materials quantity variance $
Labor rate variance $
Labor efficiency variance $
Variable overhead rate variance $
Variable overhead efficiency variance $

Answers: 2

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Fortes Inc. has provided the following data concerning one of the products in its standard cost syst...