Please do not give solution in image format thanku Compute all of the materials and labor variances.Total materials varianceMaterials price varianceMaterials quantity varianceTotal labor varianceLabor price varianceLabor quantity variance(b)$Total overhead variance $$$$$$Compute the total overhead variance.0 Concord Corporation manufactures a single product. The standard cost per unit of product is shown below.Direct materials-1 pound plastic at $6.00 per poundDirect labor-2.00 hours at $12.20 per hour"Variable manufacturing overheadFixed manufacturing overheadTotal standard cost per unitDirect materials (3,600 pounds)Direct labor (6,650 hours)Variable overheadFixed overheadTotal manufacturing costs$6.00$22,32083,79066,63830,462$203,21024.4015.0013.00The predetermined manufacturing overhead rate is $14 per direct labor hour ($28.00 +2.00). It was computed from a mastermanufacturing overhead budget based on normal production of 10,000 direct labor hours (5,000 units) for the month. The masterbudget showed total variable costs of $75,000 ($7.50 per hour) and total fixed overhead costs of $65,000 ($6.50 per hour). Actualcosts for October in producing 3,400 units were as follows.$58,40The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Rawmaterials inventories, therefore, can be ignored.

Name: Please do not give solution in image format thanku Compute all of the
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Please do not give solution in image format thanku Compute all of the materials and labor variances.Total materials varianceMaterials price varianceMaterials quantity varianceTotal labor varianceLabor price varianceLabor quantity variance(b)$Total ov