Problem 16-64 Comprehensive Variance Problem (LO 16 5, 6) The standard cost sheet for Chambers Company, which manufactures one product, follows: $ 75 100 85 Direct materials, 30 yards at $2.50 per yard Direct labor, 4 hours at $25 per hour Factory overhead applied at 85% of direct labor (variable costs S60; fixed costs S25) Variable selling and administrative Fixed selling and administrative 75 Total unit costs 386 Standards have been computed based on a master budget activity level of 29,900 direct labor-hours per month. Actual activity for the past month was as follows: 239,000 yards at $2.55 per yard Materials used Direct labor Total factory overhead Production 30,200 hours at $26.20 per hour $690,000 7,400 units Required: Prepare variance analyses for the variable and fixed costs. Materials are purchased as they are used. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Direct materials Price variance Efficiency variance Direct labor: Price variance Efficiency variance Variable overhead: Efficiency variance Fixed overhead: Production volume variance