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Soriano Manufacturing Company uses a standard cost accounting system to account for the manufacturing of exhaust fans. In July 2020, it accumulates the following data for 1,540 units started and finished: Cost and Production Data Actual Standard Raw materials Units purchased 21,200 Units used 21,200 21.900 Unit cost $3.40 $3.00 Direct labour Hours worked 3,520 3.600 Hourly rate $11.65 $12.20 Manufacturing overhead Incurred $99.700 Applied $108,000 Manufacturing overhead was applied based on direct labour hours. Normal capacity for the month was 3.400 direct labour hours. At normal capacity, budgeted overhead costs were $20 per labour hour variable and $10 per labour hour fixed. Total budgeted fixed overhead costs were $34.000. Jobs finished during the month were sold for $280.900. Selling and administrative expenses were $24.400. (a) Your answer is correct. Calculate all of the variances for direct materials and direct labour. Total materials variance $ 6380 Unfavourable Materials price variance $ 8480 i Unfavourable v Materials quantity variance $ 2100 i Favourable Total labour variance $ 2912 i Favourable Labour price variance $ 1936 i Favourable Labour quantity variance $ 976 Favourable e Textbook and Media List of Accounts Attempts: 1 of 2 used (b) Your answer is correct. Calculate the total manufacturing overhead variance. Total overhead variance $ 8300 i Favourable e Textbook and Media List of Accounts Attempts: 1 of 2 used (c) - Your answer is partially correct. Calculate the overhead budget variance and the overhead volume variance. Overhead budget variance $ V Overhead volume variance $

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