Complete the worksheet before proceeding to the requirements below:

Required:

$1.$ Check your worksheet by changing the direct materials standard quantity in cell B $6$ to $2\mathrm{.}9$ pounds, the direct labor quantity standard quantity in cell B$7$ to $0\mathrm{.}6$ hour, and the variable manufacturing overhead in cell B$8$ to $0\mathrm{.}6$ hour. The materials spending variance should now be $\backslash (\backslash$$ $1,500\backslash$mathrm$\{$U$\}\backslash ),$ the labor spending variance should now be $\backslash (\backslash$$ $3,720\backslash$mathrm$\{$~F$\}\backslash ),$ and the variable overhead spending variance should now be $\backslash (\backslash$$ $60\backslash )$ F$.$ If you do not get these answers, find the errors in your worksheet and correct them.

a$.$ What is the materials quantity variance? Explain this variance.

b$.$ What is the labor rate variance? Explain this variance.

$2.$ Revise the data in your worksheet to reflect the results for the subsequent period:

a$.$ What is the materials quantity variance? What is the materials price variance?

b$.$ What is the labor efficiency variance? What is the labor rate variance?

c$.$ What is the variable overhead efficiency variance? What is the variable overhead rate variance?