Problem 4 (Supplemental Problem #1)-Compute materials and labor variances Zoller Company produces a dark chocolate candy bar. Recently, the company adopted the following standards for one bar of candy: Direct materials (6.3 oz. @ s0.20) Direct labor (0.08 hr.@ $18.00) Standard prime cost $ 1.26 1.44 270 During the first week of operation, the company experienced the following actual results: a. Bars produced: 143,000 b. Ounces of direct materials purchased: 901,200 ounces at $0.21 per ounce. c. There are no beginning or ending inventories of direct materials. d. Direct labor: 11,300 hours at $17.30 Required: (circle F or U to indicate whether the variance is favorable or unfavorable) 1. Compute the materials price variance:912 Compute the materials quantity usage variance:?4WD F ofD 2. - Compute the total materials variance: 4. Compute the labor rate variance:1110 5. Compute the labor efficiency variance: 2520 6. Compute the total labor variance: 3. F or U or U For U F or U You must show your work to receive credit***