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Exercise 15-1Item to ClassifyStandardActualType of VarianceLabor cost$10.00 per hour$9.60 per hourFavorableLabor usage61,000 hours61,800 hoursUnfavorableFixed cost spending$400,000$390,000FavorableFixed cost per unit (volume)$3.20 per unit$3.16 per unitFavorableSales volume40,000 units42,000 unitsFavorableSales price$3.60 per unit$3.63 per unitFavorableMaterials cost$2.90 per pound$3.00 per poundUnfavorableMaterials usage91,000 pounds90,000 poundsFavorableExercise 15-2ItemBudgetActualVarianceF or USales price$650$525$125USales revenue$580,000$600,000$20,000FCost of goods sold$385,000$360,000$25,000FMaterial purchases at 5,000 pounds$275,000$280,000$ 5,000UMaterials usage$180,000$178,000$2,000FProduction volume950 units900 units50 unitsUWages at 4,000 hours$60,000$58,700$1,300FLabor usage at $16 per hour$96,000$97,000$1,000UResearch and development expense$22,000$25,000$3,000USelling and administrative expenses$49,000$40,000$9,000FExercise 15-4 MasterBudget2,000 UnitsFlexibleBudget2,200 Unitsa. & b.VolumeVariancesSales$16,000$17,600$1,600 FVariable manufac

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