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Business, 17.03.2020 19:40 darkghostmist

The standard cost sheet for Chambers Company, which manufactures one product, follows:
Direct materials, 40 yards at $2.00 per yard $ 80
Direct labor, 5 hours at $20 per hour 100
Factory overhead applied at 80% of direct labor 80 (variable costs = $60; fixed costs = $20)
Variable selling and administrative 64
Fixed selling and administrative 40
Total unit costs $ 364
Standards have been computed based on a master budget activity level of 28,800 direct labor-hours per month. Actual activity for the past month was as follows:
Materials used 200,000 yards at $2.10 per yand
Direct labor 28,500 hours at $21.00 per hour
Total factory overhead $550,000
Production 5,600 units
Required:
1. Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used. (Do not round intermediate calculations).

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The standard cost sheet for Chambers Company, which manufactures one product, follows:
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