Ralston Inc. has provided the following information. Use it to answer #1-8. Give all variances as a positive number. Round ONLY your final answer to dollars. Also,
Denote whether each variance above was favorable or unfavorable.
1. Calculate the direct material price variance
2. Calculate the direct material quantity variance.
3. Compute the direct labor rate variance. Round ONLY your final answer.
4. Compute the direct labor efficiency variance.
5. Calculate variable overhead rate variance. Round ONLY your final answer.
6. Compute the variable efficiency variance.
7. Calculate the Fixed Overhead Budget Variance. Note: information provided states FOH budgeted at $25 per unit which equates to $12.50 per hour.
8. Calculate the Fixed Overhead Volume Variance. Note: information provided states FOH budgeted at $25 per unit which equates to $12.50 per hour.