Problem 16-66 Variance Computations with Missing Data (LO 16-5, 6) The following information is provided to assist you in evaluating the performance of the production operations of Studio Company Units produced (actual) Master production budget Direct materials Direct labor Overhead Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead 43,000 $131,670 111,720 161,595 $1.65 x 2 gallons per unit of output $14 per hour x 0.2 hour per unit $12.00 per direct labor-hour S160,095 (82,100 gallons) 113,879 (8,660 hours) 164.200 (61% is variable) Variable overhead is applied on the basis of direct labor-hours. Required Calclae all variable production cost price and efficiency variances and fixed production cost price and production volume variances. (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 elther option.) Price Variance Efficiency Variance Direct materials Direct labor Variable overhead Fixed overhead