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  3. star band uniforms uses a standard costing system.

Star Band Uniforms uses a standard costing system. The standard material and labor costs for...

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Accounting

Star Band Uniforms uses a standard costing system. The standard material and labor costs for producing a marching band hat are as follows:

Materials (0.90 yards $12.00) $10.80
Direct labor (1.20 hours $14.00) $16.80

During May, the company produced 3,550 band hats; 4,000 yards of material were purchased for $42,000, and 3,100 yards of material were used in production. Also during May, 4,450 direct labor hours were worked at a cost of $62,000. Calculate material price and quantity variances and labor rate and efficiency variances. Indicate whether the variances are favorable or unfavorable. (Round intermediate calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)

Material Price Variance $

UnfavorableFavorableNeither Unfavorable nor Favorable
Material Quantity Variance $

FavorableNeither Unfavorable nor FavorableUnfavorable
Labor Rate Variance $

Neither Unfavorable nor FavorableUnfavorableFavorable
Labor Efficiency Variance $

UnfavorableFavorableNeither Unfavorable nor Favorable

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