Foundational LO10-1, LO10-2, LO10-3 IThe following information applies to the questions displayed below Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 4 pounds at $10 per pound 40 Direct labor: 2 hours at $16 per hour 32 Variable overhead: 2 hours at $6 per hour 12 Total standard cost per unit 84 The planning budget for March was based on producing and selling 30.000 units. However, during March the company actually produced and sold 34,500 units and incurred the following costs: a. Purchased 150,000 pounds of raw materials at a cost of $9.20 per pound. All of this material was used in production. b. Direct laborers worked 62,000 hours at a rate of $17 per hour. c. Total variable manufacturing overhead for the month was $390,600