Question 21 of 21 Rudd Clothiers is a small company that

Last updated: 4/7/2023

Question 21 of 21 Rudd Clothiers is a small company that manufactures tall men s suits The company has used a standard cost accounting system May 2020 10 500 suits were produced The following standard and actual cost data applied to the month of May when normal capacity was 13 000 direct labor hours All materials purchased were used Cost Element Direct materials Direct labor Overhead 2 1 2 7 yards at 4 00 per yard b 1 10 hours at 13 00 per hour 1 10 hours at 6 40 per hour fixed 3 60 variable 2 80 Overhead is applied on the basis of direct labor hours At normal capacity budgeted fixed overhead costs were 46 800 and budgeted variable overhead was 36 400 Total materials variance Compute the total price and quantity variances for 1 materials and 2 labor Round per unit values to 2 decimal places eg 52 75 and final answers to 0 decimal places eg 52 Materials price variance Materials quantity variance Standard per unit Total labor variance Labor price variance Labor quantity variance Compute the total overhead variance S S S S 15 Actual S S 281 580 for 74 100 yards 3 80 per yard 162 810 for 12 150 hours 13 40 per hour 49 400 fixed overhead 37 500 variable overhead