Problem: Nolan Inc. makes a product with the following standard costs:
The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.
1. The materials quantity variance for August is:
2. The materials price variance for August is:
3. The labor efficiency variance for August is:
4. The labor rate variance for August is:
5. The variable overhead efficiency variance for August is:
6. The variable overhead rate variance for August is: