Dante s Protein Powder produces a dietary supplement. The standard cost of producing one unit is:…

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Dante s Protein Powder produces a dietary supplement. The standard cost of producing one unit is: Material (1.25 pounds × $2.50) …………………….. $ 3.13 Labor (1.2 hours × $10) ……………………………. 12.00 Overhead …………………………………………… 11.60 Total ……………………………………………… $26.73 Standard variable overhead is $8.00 per unit, and fixed annual overhead is $90,000. At the start of 2015, expected production was 25,000 units. During 2015, 30,000 units were produced. The following information, related to actual costs incurred in 2015, is available: 1. Purchased 40,000 pounds of material for $85,000. 2. Used 38,750 pounds of material. 3. Worked 35,300 labor hours costing $375,000. 4. Actual overhead incurred was $327,000. Required a. Show the calculation of the standard overhead rate per unit. b. Calculate all material, labor, and overhead variances. c. Prepare a variance summary, and briefly comment on variances that should be investigated.

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