Chapter 10, Problem 35P

During May, Joliet Fabrics Corporation manufactured 500 units of a special multilayer fabric with the trade name Stylex. The following information from the Stylex production department also pertains to May.

The standard prime costs for one unit of Stylex are as follows:

Required: Compute the following variances for the month of May, indicating whether each variance is favorable or unfavorable.

1. 1. Direct-material price variance.
2. 2. Direct-material quantity variance.
3. 3. Direct-material purchase price variance.
4. 4. Direct-labor rate variance.
5. 5. Direct-labor efficiency variance.