Comprehensive Problem 5 Part Ct Note: This section is a continuation from Parts A and B of the comprehensive problem. Be sure you have completed Parts A and B before attempting Part C. You may have to refer back to data presented in Parts A and B as well as use answers from those parts when completing this section. Genuine Spice Inc, began operations on January 1 of the current year. The company produces 8 -ounce botties of hand and body lotion called Erernal Beatuly, The lotion is soid wholesale in 12 -bottle eases for $100 per case. There is a selling commission of $20 per case. The January direct materials, direct labor, and factory overhead costs are as follows: Dunng September of the current year, the controller was asked to perform variance analyses for August. The January operating data provided the standard prices, rated times, and quantities per case. There were 1,500 actual cases produced during August, which was 250 more cases than planned at the beginning of the month. Actual cata for August were as follows: The prices of the materials were different than standard due to fluctuations in market prices. The standard quantity of materials used per case was an ideal standard. The Normal volume 1,600 cases The prices of the materials were different than standard due to fluctuations in market prices. The standard quantity of materials used per case was an ideal standard. The Mixing Department used a higher grade labor classification during the month, thus causing the actual fabor rate to exceed standard. The filling Department used a lower grade labor classification during the month, thus causing the actual labor rate to be less than standard. Required: Enter subtracted amounts with minus sign. Enter a favorable variance as a negative number using a minus sign and an unfovorable variance as a positive number: 10. Determine and interpret the direct materials price and quantity variances for the three materials. Enter the costs in dollars and cents (carried to three decimal places when required). Difference Standard price Direct materials quantity variance Indicate if favorable or untavorable 11. Determine and interpret the direct labor rate and time variances for the two departments. Do not round hours. Enter the costs in dollars and cents. Direct Labor Rate Variance: Actual rate Standard rate Difference Actual time (hours) Direct labor rate variance Indicate if favorable or unfavorable Direct Labor Time Varianced Actual time (hours) Standard time (hours) Difference Standard rate ourec labor time variance Indicate if tavorable or untavorable Mixing Department Filling Department Previous. 2. Determine and interpret the direct labor rate and time variances for the two departments. 13. Determine and interpret the factory overhead volume variance. Round rate to four decimal places and round your final answer to two decima 14. The producton volume of cases was planned at the beginning of Augut. The variances compare the actual cost and the standard cost of. for the month. Thas, the sandard cos must be based on the units of actual production