Meera Corporation makes a product with the following standard costs:
In December the company produced 4,200 units using 34,870 ounces of the direct material and 1,900 direct labor-hours.During the month,the company purchased 39,700 ounces of the direct material at a total cost of $111,160.The actual direct labor cost for the month was $35,530 and the actual variable overhead cost was $3,990.The company applies variable overhead on the basis of direct labor-hours.The direct materials purchases variance is computed when the materials are purchased.Required:
a.Compute the materials quantity variance.b.Compute the materials price variance.c.Compute the labor efficiency variance.d.Compute the direct labor rate variance.e.Compute the variable overhead efficiency variance.f.Compute the variable overhead rate variance.
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