Please do not give solution in image format thanku ✓ Your answer is correct.Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, eg. 52.75 andfinal answers to O decimal places, eg. 52.)(1)(2)Total materials varianceMaterials price varianceTotal labor varianceMaterials quantity variance $Labor price varianceLabor quantity varianceList of Accounts(b)$$List of AccountsS$Compute the total overhead varianceTotal overhead variance SUnfavorableUnfavorableUnfavorableUnfavorableUnfavorableFavorable Sunland Corporation accumulates the following data relative to jobs started and finished during the month of June 2022.Costs and Production DataRaw materials unit costRaw materials unitsDirect labor payrollDirect labor hoursManufacturing overhead incurredManufacturing overhead appliedMachine hours expected to be used at normal capacityBudgeted fixed overhead for JuneVariable overhead rate per machine hourFixed overhead rate per machine hour(a)Actual$2.4011.100$177,00015,000$204,550Standard$210,400$171,36015,300$206,55041,500$62,250$3.00$1.50Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. Thejobs were sold for $498,000 Selling and administrative expenses were $37.900. Assume that the amount of raw materials purchased

Name: Please do not give solution in image format thanku ✓ Your answer is co
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Please do not give solution in image format thanku ✓ Your answer is correct.Compute all of the variances for (1) direct materials and (2) direct labor. (Round per unit values to 2 decimal places, eg. 52.75 andfinal answers to O decimal places, eg. 52