Problem 16-73 (Algo) Comprehensive Variance Problem (LO 16-5, 6) Sweetwater Company manufactures two products, Mountain Mist and Valley Stream. The company prepares its master budget on the basis of standard costs. The following data are for March. Standards Direct materials Direct labor Variable overhead (per direct labor-hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) Mountain Hist 3 ounces at $15.00 per ounce 5 hours at $60.00 per hour $365,313 6,630 $48 4,700 ounces at $14.00 per ounce 5,060 hours at $62.00 per hour $264,550 $332,950 1,050 units Valley Stream 4 ounces at $17.00 per ounce 6 hours at $76 per hour $53.00 $399,360 7,800 4,500 ounces at $18.50 per ounce 7,460 hours at $80.60 per hour $394,510 $404, 500 1,200 units Required: a. Prepare a variance analysis for each variable cost for each product b. Prepare a fixed overhead variance analysis for each product (For all requirements, 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.) Mountain Mist Valley Stream Price Variance Efficiency Variance Price Variance+ Efficiency Variance Direct materials Direct labor Variable overhead