Rip Tide Company manufactures surfboards. Its standard cost information follows:

	Standard Quantity		Standard Price (Rate)		Standard Unit Cost
Direct materials (fiberglass)	15	square feet	$ 5	per square feet	$ 75.00
Direct labor	10	hours	$ 15	per hour	150.00
Variable manufacturing overhead (based on direct labor hours)	10	hours	$ 6	per hour	60.00
Fixed manufacturing overhead ($24,000 300 units)					80.00

Rip Tide has the following actual results for the month of June:

Number of units produced and sold	329
Number of square feet of fiberglass purchased and used	5,090
Cost of fiberglass used	$ 27,995
Number of labor hours worked	3,230
Direct labor cost	$ 50,711
Variable overhead cost	$ 14,090
Fixed overhead cost	$ 25,450

Required:

1. Calculate the direct materials price, quantity, and total spending variances for Rip Tide.
2. Calculate the direct labor rate, efficiency, and total spending variances for Rip Tide.
3. Calculate the variable overhead rate, efficiency, and total spending variances for Rip Tide.
4. Calculate the fixed overhead spending (budget) and volume variances for Rip Tide.

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2
• Required 3
• Required 4

Calculate the direct materials price, quantity, and total spending variances for Rip Tide. Note: Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).

	Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance