IV. Comprehensive Variance Analysis (20 points) Flushing Corp. produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labor hours. The standard cost card for one unit of product is as follows: (1) Inputs Direct Materials Direct Labor Variable Manufacturing Overhead Total Standard Cost Per Unit Standard Quantity or Hours 6 oz. 0.6 hours 0.6 hours (2) Standard Price or Rate $0.50 per oz. $30.00 per hour $10.00 per hour Standard Cost (1) x (2) $3.00 18.00 6.00 $27.00 During June, 2000 units were produced. The costs associated with June's operations were as follows: Materials purchased: 18,000 oz. at $0.60 per oz. $10,800 Materials used in production 18,000 oz. Direct Labor: 1,100 hours at $30.50 per hour.... $33,500 Variable Manufacturing overhead costs incurred. $12,980 Required: Compute the direct materials, direct labor, and variable manufacturing overhead variances. PhotoGrid