Bonita Clothiers is a small company that manufactures tall-men's suits. The company has used a standard costaccounting system. In May 2022, 10,100 suits were produced. The following standard and actual cost dataapplied to the month of May, when normal capacity was 12,500 direct labor hours. All materials purchased wereused.Cost ElementStandard (per unit)ActualDirect materials9 yards at $4.50 per yard$398,025 for 91,500 yards ($4.35 peryard)Direct labor1.10 hours at $14.00 per hour$172,944 for 12,010 hours ($14.40 perhour)$49,900 fixed overhead$37,500 variable overheadOverhead1.10 hours at $6.20 per hour (fixed $3.70;variable $2.50)Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were$46,250, and budgeted variable overhead was $31,250.(a)Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round per unit values to 2decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.)(1)Total materials variance2$Materials price variance2$Materials quantity variance2$(2)Total labor varianceLabor price variance$Labor quantity variance2$(b)Compute the total overhead variance.Total overhead variance$<><><><><><>%24

Name: Bonita Clothiers is a small company that manufactures tall-men's suit
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Bonita Clothiers is a small company that manufactures tall-men's suits. The company has used a standard costaccounting system. In May 2022, 10,100 suits were produced. The following standard and actual cost dataapplied to the month of May, when norm