7 Problem 16-72 (Algo) Variance Computations with Missing Data (LO 16-5, 6) The following information is provided to asshut you in evaluating the performance of the production operations of Studio Company 10 pol 5137,010 111,10 166,76 units produces (actual) Master production budget Direct materiais Direct labor Orhead Standard costs per unit Direct werials Director Varble overhead Actual con Direct materias purchased and used Direct Labor Overhead PE 51.52 pallons per wit of output $14 per hour 9.2 hour per unit $12.50 per direct labor-hour $540,70 96,100 gallons 1111,4 (1,550 hours) 364,200 (61% 1s vertel Reference Variable overhead is applied on the basis of direct laboe hours Required: Calculate all variable production cost orice and etficiency Valances and fixed production cost price and production volume variances (Do not round intermediate calculations, Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable If there is no effect, do not select either option) Price Varance Micimacy Variance Production Volume Variance Drect mana Drector Variable remond Prodowed