Direct material Direct labor Variable overhead Fixed overhead Total Standard Costs (9,200 units) Actual Costs (9,200 units) Variances $38,640 193,200 22,080 9,660 $41,760 $3,120 U 191,760 1,440 F 23,230 1,150 U 9,660 $266,410 $2,830 U $263,580 W Standard materials cost per unit of product is 0.5 pounds at $8.40 per pound, and standard direct labor cost is 1.5 hours at $14.00 per hour. The total actual materials cost represents 4,800 pounds purchased at $8.70 per pound. Total actual labor cost represents 14,100 hours at $13.60 per hour. According to standards, variable overhead rate is applied at $1.60 per direct labor hour (based on a normal capacity of 15,000 direct labor hours or 10,000 units of product). Assume that all fixed overhead is applied to work-in-progress inventory. a. Determine the following variances: Do not use negative signs with any of your answers. Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable. Materials Variances Actual cost $ 4,800 x Split cost $ 4,800 x Standard cost $ 4,800 * Materials price $ 0x U Materials efficiency $ 1,440 x U Labor Variances Actual cost: $ 5,640 x Split cost: $ 0% Standard cost: $ 0% Labor rate $ 0x U Labor efficiency s 0x U X Variable Overhead Variances Actual cost: $ 0x Split cost: $ 0x Standard cost $ 0x Variable overhead spending s 0* U