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QUESTION 2 Miguez Corporation makes a product with the following standard costs. Standard Quantity or...

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QUESTION 2 Miguez Corporation makes a product with the following standard costs. Standard Quantity or Standard Price or Standard Cost Hours Rate Per Unit Direct materials 2.8 liters $ 7.50 per liter $ 21.00 Direct labor 0.5hours $ 27.00per hour $13.50 Variable overhead 0.5hours $ 2.50per hour $ 1.25 The company budgeted for production of 3100 units in September, but actual production was 3000 units. The compey used 5940 liters of direct material and 1730 direct labor hours to produce the output. The company purchased 6300 liters of the direct material at $7.70 per liter. The actual direct labor rate was $29.10 per hour and the actual variable overhead rate wa 52.40 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for September $150U $150 F 51730 $173F

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