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ACE Corp. uses a standard cost system for its single product in which variable overhead is applied on the basis of direct labor hours. The following information is given: Standard costs per unit: Raw materials (1.5 grams at $16 per gram).............................$24.00

Direct labor (0.75 hours at $8 per hour)..................................$6.00

Variable overhead (0.75 hours at $3 per hour).........................$2.25

Actual experience for current year:

Units produced.........................................................................22,400 units

Purchases of raw materials (21,000 grams at $17 per gram)...$357,000

Raw materials used..................................................................33,400 grams

Direct labor (16,750 hours at $8 per hour)..............................$134,000

Variable overhead cost incurred...............................................$48,575

Required: 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: a.Direct materials price variance. b.Direct materials quantity variance. c.Direct labor rate variance. d.Direct labor efficiency variance. e.Variable overhead spending variance. f.Variable overhead efficiency variance.

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