3) Maple Leaf, Inc. Maple Leaf, Inc. manufactures two products, Alphas and Betas. The company prepares its master budget based on standard costs. The following data are for March: Standards Alpha Beta Direct materials 7.5 kilograms at $37.50 /kg 10 kilograms at $41.25 /kg Direct labor 12.5 hours at $50.00 /hr 15 hours at $75.00 /hr Variable overhead (per direct labor hour) $52.00 $50.00 Fixed overhead (per month) $833,350 $994,500 Expected activity (direct labor hours) 14,375 19,500 Actual results Direct materials (purchased and used) 7,750 kilograms at $33.75 /kg 11,750 kilograms at $43.25 /kg Direct labor 12,250 hours at $60.75 /hr 18,500 hours at $76.50 /hr Variable overhead $606,375 $946,275 Fixed overhead $784,875 $990,000 Units produced (actual) 1,000 units 1,200 units a) Prepare a variance analysis for each variable cost for each product (direct materials, direct labor, and variable overhead). b) Prepare a fixed overhead variance analysis for each product