Instructions: Complete the following problem: Shiow your work, and clearly label which variances you ore calculating riequeses 3 houts of labor to produce a widget at a rato of $20 per hour. The company produces 6,500 widgets ourng tho monen. It used bo,000 pounds to make the widpets and paied $525 per pound. Their employees workod a total of 19,000 bours and wore paid $21 per hoor A) Calculate matenal price varianoe, the material quantity variance, and the total materials vanance. 1) Calculate the laber rate vanance, the labor efficiency variance and the total laber vararice