Kowaleski Corporation makes a product with the following standard costs: In June

Question

Kowaleski Corporation makes a product with the following standard costs: In June the company produced 5,300 units using 26,690 grams of the direct material and 2,570 direct labor-hours. During the month the company purchased 25,200 grams of the direct material at a price of $4.80 per gram. The actual direct labor rate was $12.60 per hour and the actual variable overhead rate was $1.90 per hour. The materials price variance is computed when materials are purchased. Variable overhead is applied on the basis of direct labor-hours. Compute the following variances for raw materials, direct labor, and variable overhead, assuming that the price variance for materials is recognized at point of purchase: (Input all amounts as positive values. Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.)

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Kowaleski Corporation makes a product with the following standard costs: In June

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