Question: please help! Problem 24-03A a-b Rudd Clothiers is a small company that manufactures taill-men's sults. The company has used a standard cost accounting system. In

Problem 24-03A a-b Rudd Clothiers is a small company that manufactures taill-men's sults. The company has used a standard cost accounting system. In May 2020, 10,600 sults were produced. The following standard and actual cost data applied to the month of May when normal capacity was 16,000 direct labor hours. All materials purchased were used. Cost Element Standard (per unit) Actual Direct materials 10 yards at $4.90 per yard $501,020 for 106,600 yards ($4.70 per yard) Direct labor 1.20 hours at $13.00 per hour $182,50B for 13,620 hours ($13.40 per hour) Overhead 1.20 hours at $6.40 per hour (fixed $3.60, variable $2.80) $49,200 fixed overhead $36,500 variable overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $57,600, and budgeted variable overhead was 54,800 Compute the total price, and quantity variances for (1) Materials and (2) labor. (Round per unit values to 2 decimal places, ..g. 52.75 and final answers to decimal acan, g. 52.) (1) Total materiais variance 5 Materials price variance Materials quantity variance (2) Total labor variante Labor price variance Labor quality variance Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round per (1) Total materials variance > Materials price variance Materials quantity variance
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