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Exercise 11-2 Computing All Variances (LO3. CC15, 17, 18; LO4.CC22, 23) Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labour standards for one unit of Zoom follow Standard Quantity Standard Price Standard orosis op Rate Cost Direct naterials 4.10 kilograms $1.80 per kilogram $7.38 Direct labour 0.40 hour 57.00 per hour 2.00 Variable overhead 2.4 hour $1.10 per hour 0.44 The budgeted fixed overhead cost is $15,014 per month. The denominator activity level of the allocation base is 1,360 direct labour- hours During the most recent month, the following activity was recorded: a 10,500 kilograms of material were purchased at a cost of $219 per kilogram b. All of the material purchased was used to produce 3.400 units of Zoom A total of 810 hours of direct labour time was recorded at a total labour cost of 9153 d. The variable overhead cost was 51620, and the fored overhead cost was $27.023 Required: 1. Compute the direct materials price and quantity variances for the month (Indicate the effect of each variance by selecting " for la farina and Nana in nn affari ar ariral favourable, "U" for unfavourable, and "None" for no effect (1.0., zero variance)) 1. Compute the direct materials price and quantity variances for the month (Indicate the effect of each variance by selecting "F" for Materials price variance Materiais quantity variance 2. Compute the direct labour rate and efficiency variances for the month (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effectie, zero variance)) li wawe 2. Compute the direct labour rate and efficiency variances for the month (Indicate the effect of each variance by selecting "P" for favourable, "U" for unfavourable, and "None" for no effect (ie, zero variance).) Labour rate variance Labour officiency variance B 3. Compute the variable overhead spending and efficiency variances for the month (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (.e., zero variance). Round "Efficiency variance" to 2 decimal places) Variable overhead spending variance Variable overhead efficiency variance at 4. Compute the fixed overhead budget and the volume variances for the month (Round intermediate calculations to the nearest whole dollar amount. Indicate the effect of each variance by selecting for favourable, "U" for unfavourable, and "None" for no effect ... zero variance). . 3 Fond overhead budget variance Fixed ovestoad volume variance 5. Compute the underapplied or overapplied overhead for the month. (Round intermediate calculations and round final answer to 2 decimal places. Indicate the effect of each variance by selecting "F" for favourable. "U" for unfavourable, and "None for no effect lie.. zero variance)) Total variable overhead variance Totalfixed overhead variance overhead is