Material Price Variance= (Actual Quantity x Actual Price) – (Actual Quantity x Standard price)

= (4100x17.2) – (4100x 16.50)

=2870 Unfavorable

Actual Price= Total Cost/Actual Quantity

= 70520/4100= 17.2

Materials Quantity Variance= (Actual Quantity x Standard price) – (Standard Quantity x Standard Price)

= (3500 x 16.50) – (3510 x 16.50)

= - 165 Favorable

Labor Rate Variance= (Actual Hour x Actual Rate) – (Actual Hour x Standard Rate)

= (2800 x 14.65) – (2800 x 14)

= 1820 u

Labor Efficiency Variance = (Actual Hour x Standard Rate) – (Standard Hour x Standard Rate)

= -7840 F

Variable overhead Variance= (Actual Hour x Actual Rate) – (Actual Hour x Standard Rate)]

= (8700 x 6.05) x (8700 x 6.80)

= (6525) Favorable

Variable Efficiency Variance = (Actual Hour x Standard Rate) – (Standard Hour x Standard Rate)

= (8700 x 6.80) – ( 8580 x 6.8)

816 u