(Solved by Humans)-PROBLEM 1Ac€??VARIANCES FROM STANDARD COSTS Standard costs and actual costs for direct materials,

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PROBLEM 1Ac€??VARIANCES FROM STANDARD COSTS Standard costs and actual costs for direct materials, direct labor, and factory overhead for the manufacture of 250 units of product were as follows:                                                             Standard Costs                                                            Actual Costs Direct materials .................             800 kilograms at $25 per kilogram                          810 kilograms at $25.75 per kilogram Direct labor .........................             4,000 direct labor hours at $20 an hour                  4,200 direct labor hours at $19.40 an hour Factory overhead ..............             Productive capacity of 100%,                                                                                            20,000 machine hours                                                                                                              Hourly rates:                                                                     Variable cost, $4 an hour                                   Total variable cost, $65,200                                                                     Fixed cost, $2 an hour                                        Total fixed cost, $40,000 NOTE: Each unit of product requires a standard of 64 machine hours.             Materials used were purchased during this period.         INSTRUCTIONS: Indicate the amount and nature (favorable or unfavorable) of each of the following variances. For For VARIANCE Answers Scoring Scoring      1-2.   Direct materials quantity variance .................................................................     $ 1. ____ F U 2. ____      3-4.   Direct materials price variance .......................................................................     $ 3. ____ F U 4. ____      5-6.   Direct labor time variance ...............................................................................     $ 5. ____ F U 6. ____      7-8.   Direct labor rate variance ................................................................................     $ 7. ____ F U 8. ____    9-10.   Factory overhead volume variance ...............................................................     $ 9. ____ F U 10. ____ 11-12.   Factory overhead controllable variance .......................................................     $ 11. ____ F U 12. ____