CALCULATOR PRINTER VERSION SHACK NEXT RCES Question 1 Your answer is partially correct. Try again. Rudd Clothiers is a small company that manufactures tallmen's suits. The company has used a standard cost accounting system. In May 2020, 10,600 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 17,500 direct labor hours. All materiais purchased were used Study Cost Element Standard (per unit) Actual Direct materials 7 yards at 54.50 per yard $325,815 for 74,900 yards ($4.35 per yard) Direct labor 1.10 hours at $13.00 per hour $168,304 for 12.560 hours ($13.40 per hour) Overhead 1.10 hours at $6.70 per hour (fixed $4,00, variable $2.70) $43,200 fixed overhead $36,500 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $70,000, and budgeted variable overhead was 47.250 (a) Compute the total price and quantity variances for (1) materials and (2) tabor (Round per unit values to 2 decimal places, . 52.75 and final answers to decimal places, eg. 52.) (1) Total materiais variance 8,035 Favorable Materiais price variance 11, 235,00 Favorable ignment CALCIRATOR PRINTER VERSION BACK NEXT Compute the total price and quantity variances for (1) materials and (2) labor. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to o decimal places, e.g. 52.) (1) Total materials variance 8,005 Favorable Materials price variance 11,235,00 Favorable Materials quantity variance 3.150,00 Unfavorable (2) Total labor variance 16,724,00 Unfavorable Labor price variance Unfavorable Labor quantity variance Unfavorable (b) Compute the total overhead variance. Total overhead variance 12:790,00 Favorable