Problem 15 {Comprehensive} T Companv makes a single product which has the following standards: Direct materials 2 kilograms $4.30 per kilogram Direct labor 3 hours $5.00 per hour Variable overhead 3 hours $5.50 per hour Fixed overhead 3 hours $0.00 per hour The following data pertain to June's operations: I Direct labor was $820,500 for 14?,000 hours worked I Direct material purchases were 110,000 kilograms for $435,000 I Variable manufacturing overhead incurred was $036,000 I Fixed manufacturing overhead incurred was $1,154,500 I 93,000 kilograms of direct materials were used I The companv sold 42,000 units at $130 each I Variable manufacturing overhead is applied based on direct labor hours I 46,000 units were produced during the year I Budgeted production was 45,000 units I At the beginning of June there were no inventories. Required: 3. Compute the material price and quantity variances [1 Compute the labor rate and efficiency.r variances. c. Perform a 2-wav, 3-wav, and 4-wayr overhead variance analvsis