Problem 10-13 Basic Variance Analysis: the Impact of Variances on Unit Costs [LO10-1, LO10-2. LO10-31 Koontz Company manufactures a number of products. The standards relating to one of these products are shown below. along with actual coat data for May Standard 540 Standard 80 feet at $3.00 per foot 80 feat at $3 per foot Actual labu Standard 6.20 92 hours at Standard: 0.90 Actual 54.50 per ho Total r.nst unit Excess of actual cust ver standard cust per unit The production superintendent was plcased when he saw this report and commented: This $0.08 2 parc Bat for acceptable warianc t's obvious well wrt mt management that Lhere's mul much Lu worry about with this producL' 12.000 units. variable overhead cost is duct gned to product basis of direct laborhours. There were no bagnnng or nding inventorias of materials. Req for May a. Materials pric Input all amounts as positive va es, Indicate the effect quantity vana of each variance by selecting TF" for favorable, "U" for unfavorable, and "None" for no effect e, zero variance). Materials pnce varia 0 None Materials quantity wariance 3 by seleotin9 "F" for fa e, and "hone" for effect lie, Iirdioane the emect er each vari by selecting "F" for bworable "U" for unravorabl e, and Labor rian ad