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Home Data Insert Draw Page Layout Formulas Cambria 12A BIUR A Review = = View Dis 20 Wrap Text Merge & Center E fx Malfoy Manufacturing makes a product with the following standard costs: 114. Worth 25 points Show your work for opportunities for partial credit 2 Malfoy Manufacturing makes a product with the following standard costs: Standard Qty or Standard Price or Hours Rate 4 Direct materials... 1.5 Liters $4.50 per liter 5 Direct labor 0.5 hours $20 per hour 6 Variable overhead 05 hours $4 per hour & The company produced 4,500 units in September using 6,900 liters of direct material and 2,300 9 direct labor hours. During the month, the company purchased 7,000 liters of the direct material at 10 54.25 per liter. The actual direct labor rate was $19.50 per hour and the actual variable overhead 11 rate was $4.25 per hour. 12 The company applies variable overhead on the basis of direct labor hours. The direct materials 13 purchases variance is computed when the materials are purchased. 14 Required: 15 Calculate the spending variances, price variances and quantity variances for direct materials 16 direct labor, and variable manufacturing overhead. Mc Shonans Pas