Please do not give solution in image format thanku (b)Compute the total overhead variance.Total overhead variance Crane Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. InMay 2022, 10,000 suits were produced. The following standard and actual cost data applied to the month of May, when normalcapacity was 12,500 direct labor hours. All materials purchased were used.Cost ElementDirectmaterialsDirect laborOverhead6 yards at $4.00 per yard1.10 hours at $13.00 per hour1.10 hours at $6.00 per hour (fixed $3.50; variable$2.50)Total materials varianceOverhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $43,750, and budgetedvariable overhead was $31,250.(a)Materials price varianceCompute the total, price, and quantity variances for (1) materials and (2) labor. (Round per unit values to 2 decimal places, e.g. 52.75 andfinal answers to O decimal places, e.g. 52.)Materials quantity varianceStandard (per unit)Total labor varianceLabor price varianceLabor quantity varianceActual$235,950 for 60,500 yards ($3.90 per yard)$154,280 for 11,600 hours ($13.30 per hour)$48,000 fixed overhead $36,500 variableoverhead$

Name: Please do not give solution in image format thanku (b)Compute the tota
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Please do not give solution in image format thanku (b)Compute the total overhead variance.Total overhead variance Crane Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. InMay 202