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CoursHeroTranscribedText: Problem - Variance Analysis Jae Radhas, LLC is a producer of planters. The following...

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CoursHeroTranscribedText: Problem - Variance Analysis Jae Radhas, LLC is a producer of planters. The following information pertains to Q3's production of their very popular large outdoor planter. Variable and fixed overhead are applied based on Direct Labor Hours Standards Material: 3.1 pounds per Unit @ $3.8 per pound Labor: 2 hours per Unit @ $12 per hour Variable OH: 2 hours per Unit @ $3 per hour Fixed OH: 2 hours per Unit @ $0.75 per hour* *based on budgeted production of 12,700 Units Actuals Production: 13,000 Units produced during the month Material: 38,700 pounds purchased and used @ $4 per pound Labor: 26,300 direct labor hours @ $12.1 per hour Variable OH: $77,680 Fixed OH: $19,250 Determine the following: 1. Material price variance 2. Material usage (quantity) variance 3. Labor rate variance 4. Labor efficiency variance 5. Variable overhead spending variance 6. Variable overhead usage variance 7. Fixed overhead spending variance 8. Fixed overhead volume variance

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