Cajun Corporation manufactures a labor-intensive product. The cost standards developed by Cajun appear below. Manufacturing overhead at Cajun is applied to production on the basis of standard direct labor-hours: 
The standards above were based on an expected annual volume of 8,000 units. The actual results for last year were as follows: 
Required:
Compute the following variances for Cajun.
a. Materials price variance.
b. Materials quantity variance.
c. Labor rate variance.
d. Variable overhead rate variance.
e. Variable overhead efficiency variance.
f. Fixed overhead budget variance.
Definitions:
Competitors
Entities that compete within the same market, offering similar products or services to the same customer base.
Competitive Advantage
Competitive advantage occurs when a business possesses a unique feature, capability, or position that allows it to outperform competitors.
Survival
The ability of a person, organization, or entity to continue to exist or operate despite facing obstacles or adversity.
Mistakes
Actions or judgments that are wrong or incorrect, often leading to undesirable outcomes, but can serve as valuable learning experiences.
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