Exercise 16-44 Comprehensive Cost Variance Analysis (LO 16-5, 6) NSF Lube is a fast-growing chain of oil-change stores. The following data are available for last year's services: . NSF Lube performed 470,700 oil changes last year. It had budgeted 433,800 oil changes, averaging 13 minutes each . Standard variable labor and support costs per oil change were as follows: Direct oil specialist services 13 minutes at $24 per hour Variable support staff and overhead 9.0 minutes at $20 per hour $5 20 3.0 . Fixed overhead costs: Annual budget $1,037,800 Fixed overhead is applied at the rate of $3.30 per oil change. Actual oil change costs: . Direct oil specialist services 470,700 changes averaging 16 minutes at $27 per hour Variable support staff and overhead 0 16 labor-hours at $15 per hour x 470,700 changes Fxed overhead $3,389,040 1,129,680 1,335,000 Required: a. Prepare a cost variance analysis for each vari effect, do not select either option.) able cost for last year. (Do not round intermediate calculations. Indicate the effect of each Price Variance Efficiency Variance Total Varilance Oil specialist Variable overhead