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Problem 1 Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor- hours Standard Quantity or Hours per Unit ofStandard Price or Inputs Direct materials. Direct labo Variable manufacturing overhead Output 8.0 ounces 0.60 hours 0.60 hours Rate $6.10 per ounce $19.80 per hour $4.40 per hour The company has reported the following actual results for the product for April: Actual output Raw materials purchased 5,600 units .48,200 ounces Actual cost of raw materials purchased.. $279,56 Raw materials used in production 44,810 ounces ....3,150 hours ..$64,890 Actual variable overhead cost $12,915 Required: (a) Compute the materials price variance for April. (b) Compute the materials quantity variance for April (c) Compute the labor rate variance for April. (d) Compute the labor efficiency variance for April