standard costs and variances 495421

value:?10.00 points The standard costs and variances for direct materials, direct labor, and factory overhead for the month of May are as follows:?? ???Variances ?????????Standard Cost??Unfavorable??Favorable???Direct materials?$?90,000??????????Price variance?????$?4,500 ??????Quantity variance????????$?2,700 ???Direct labor??180,000??????????Rate variance?????????1,800 ???Efficiency variance??????5,400 ??????Manufacturing overhead??270,000??????????Spending variance?????????3,600 ???Volume variance?????????2,400 ????? Determine the actual costs incurred during the month of May for direct materials, direct labor, and manufacturing overhead. (Omit the “$” sign in your response.)?? Actual costs incurred??Direct materials?$ ??Direct labor?$ ??Manufacturing overhead?$ ?? 2. value:?10.00 points The accountants for Polyglaze, Inc., have developed the following information regarding the standard cost and the actual cost of a product manufactured in June:?? ?Standard Cost??Actual Cost???Direct materials:????????Standard: 10 ounces at $0.15 per ounce?$?1.50 ??????Actual: 11 ounces at $0.16 per ounce????$?1.76 ???Direct labor:????????Standard: 0.50 hours at $10.00 per hour??5.00 ??????Actual: 0.45 hours at $10.40 per hour?????4.68 ???Manufacturing overhead:????????Standard: $5,000 fixed cost and $5,000 variable?cost for 10,000 units normal monthly volume??1.00 ??????Actual: $5,000 fixed cost and $4,600 variable cost?for 8,000 units actually produced in June????This document was truncated here because it was created in the Evaluation Mode.