Doby Corporation makes a product with the following standard costs:Direct materialsDirect laborVariable overhead.In July the company produced 4,920 units using 13,750 ounces of the direct material and 1,000 direct labor-hours. During the monththe company purchased 14,900 ounces of the direct material at a price of $7.2 per ounce. The actual direct labor rate was $16.2 perhour and the actual variable overhead rate was $5.4 per hour. The materials price variance is computed when materials arepurchased. Variable overhead is applied on the basis of direct labor-hours.Required:a. Compute the materials quantity variance.b. Compute the materials price variance.c. Compute the labor efficiency variance.d. Compute the labor rate variance.e. Compute the variable overhead efficiency variance,f. Compute the variable overhead rate variance.a. Materials quantity varianceb. Materials price variancec. Labor efficiency varianced. Labor rate variancee. Variable overhead efficiency variancef. Variable overhead rate varianceStandard Quantity or Hours.2.70 ounces0.20 hours0.20 hoursNote: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zerovariance). Input all amounts as positive values.$$$Standard Price or Rate$7.00 per ounce$ 17.00 per hour$ 6.00 per hourU2,920 U170 U776 FFU

Name: Doby Corporation makes a product with the following standard costs:Di
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Doby Corporation makes a product with the following standard costs:Direct materialsDirect laborVariable overhead.In July the company produced 4,920 units using 13,750 ounces of the direct material and 1,000 direct labor-hours. During the monththe co