High Tech Builds Fence Panels to Custom Order

Essay

High Tech builds fence panels to custom order.Materials include 15 units of lumber at $2.25/unit.Standards call for 3 hours of labor at $25/hr.During October,3,121 fence panels were built.Materials purchased totaled $113,650 for 51,100 units of lumber.Actual lumber usage in production was 51,069 units.The October payroll was $248,000 for 9,500 hours.Required:
(Be sure to indicate whether the variance is favorable or unfavorable. )
a.Compute the direct material price variance.b.Compute the direct material quantity variance.c.Compute the direct labor rate variance.d.Compute the direct labor efficiency variance.