E. Standard costing

A bespoke furniture maker has a standard material cost of 5 kg of oak per table at a standard price of $20 per kg. During the month, the company purchased and used 600 kg of oak to produce 110 tables. The actual total cost of the oak purchased was $12,600. What is the direct material price variance?

A software development firm uses standard costing. The standard labor time to code a specific module is 5 hours, at a standard rate of $40 per hour. In the latest sprint, the team completed 100 modules and actually worked 480 hours. Calculate the labor efficiency variance in dollars. (Enter the absolute numeric value only, without commas, currency symbols, or F/A designations. E.g., if the answer is $500 Adverse, enter 500)

A private hospital uses standard costing for its surgical wards. The standard variable overhead rate is $50 per nursing hour. During a busy month, 2,000 nursing hours were actually worked, but the actual variable overheads incurred amounted to $105,000. What is the variable overhead expenditure variance?

A mining company uses standard absorption costing. The standard profit per ton of coal is $15, and the standard fixed overhead absorption rate is $5 per ton. The company budgeted to sell 50,000 tons but actually sold 48,000 tons. What is the sales volume profit variance?

SECTION B - MULTI-TASK QUESTION 2 (STANDARD COSTING) Scenario: AeroDrone Technologies manufactures commercial drones. They use standard marginal costing. The standard cost card for one drone is: - Direct Materials: 4 units of carbon fiber @ $50/unit = $200 - Direct Labor: 10 hours @ $20/hour = $200 - Standard Contribution per drone = $300 Actual results for the month (1,000 drones produced and sold): - Materials purchased and used: 4,200 units costing $218,400 - Labor worked: 9,800 hours costing $205,800 - Idle time recorded: 200 hours (included in the 9,800 hours paid) Based on the scenario, answer the following 5 sub-tasks. Task 1: Calculate the Direct Material Price Variance. Task 2: Calculate the Direct Material Usage Variance. Task 3: Calculate the Direct Labor Rate Variance. Task 4: Calculate the Direct Labor Efficiency Variance (based on active hours worked). Task 5: Calculate the Idle Time Variance.