Problem 16-71 (Algo) Comprehensive Variance Problem (LO 16-5, 6) The Valley Plant of Patton Supply manufactures a single product. The standard cost sheet for the product follows: Standards have been computed based on a moster budget activity level of 20.550 direct labor-hours per month. Actual activity for the past month was as follows: Required: a. Prepare variance analyses for the variable and fixed costs. b. Complete the following table with the total variance for a resource. Complete this question by entering your answers in the tabs below. Prepare variance analyses for the variable and fixed costs. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable, If there is no effec select either option. Complete this question by entering your answers in the tabs below. Complete the following table with the total variance for a resource. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavo select either option