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Thank you! Basill Tooling uses a standard cost system to...

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Accounting

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Basill Tooling uses a standard cost system to account for the costs of its one product. Standards are 4 sheets of 12 -inch steel at $110 per sheet and 14.0 hours of labor at a standard wage rate of $13.0. During July, Basil Toolling produced 600 units. Materials purchased and used totaled 2,710 sheets at a price of $106. Payroll totaled $114,432 for 8,940 hours worked. Required: a. Calculate the direct materials price variance. Note: Do not round your intermedlate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance). b. Calculate the direct materials quantity variance. Note: Indicate the effect of varlance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance). c. Calculate the direct labor rate variance. Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero variance). d. Calculate the direct labor efficiency variance. Note: Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (l.e., zero varlance)

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