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Direct Materials, Direct Labor, and Overhead Variances, Journal Entries Rand Comparty produces dry fertilizer. At the beginning of the year, and had the following standard cost sheet: $10.80 2.70 Dired malerias (8 lbs. 51.35) Dired labor (0.15 hr. $18.00) Fixed overhead (0.20 hr. $3.00) Variable overhead (0.20 hr. 51.70) Standard cost per unit 0.60 0.34 $14.44 Overhead rates are computed using practical volume, which is 50,000 units. The actual results for the year are as follows: a. Units produced: 53,000 b. Dired materials purchased: 408.000 pounds at 51.32 pur pound c. Direct materials used: 406,800 pounds d. Direct labor: 10,500 hours at $17.95 per hour e. Fixed avhead: 536,570 f. Vart ble overhead: 518,000 Required: 1. Compute ptical and tece variances les direct materiale MPV Unfavorable 12, 240 MUV Favorable 23,220 2. Compute the direct labor rate and labor efficiency vananemis, Labor Rate Varance 525 Favorable Labor Efficuncy Vanance 45,900 Unfavorable 3. compute the foxud ovu spinding and volume variances Spending Varian X Unfavorable Volum Varan X Favorable 4. Computil the title overhead spendine ufficy va Sending Virtance 150 Unfavorable Efficiency Valance 4,335 Unfavorable

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