Problem 9-18 Comprehensive Variance Analysis [LO9-4, LO9-5, LO9-6] Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: "Contains direct materials, direct labot, and vatiable manufacturing overhesd Janet Dunn, who has just been appointed general manager of the Westwood Plant, has been given instructions to "get things under control." Upon reviewing the plant's income statement, Ms. Dunn has concluded that the major problem lies in the variable cost of goods sold. She has been provided with the following standard cost per swimming pool: "Based on machine hours: During June the plant produced 7,000 pools and incurred the following costs: a. Purchased 33,700 pounds of materials at a cost of $3.15 per pound b. Used 28.500 pounds of materials in production. /Finished goods and wotk in process inventones are insignificart and can be ignored) c. Worked 3.400 direct labor-hours at a cost of $790 per hout d. Incurred variable manufacturing overhead cost totaling \$12,710 for the morth. A totat of 3,100 machire-hours was recorded. It is the company's policy to ciose all variances to cont of goods sold on a monthily baus. Aequired: 1. Compute the following vatiances for June: a. Matecials price and evantity variances. b. Labor rate and efficiency variances c. Voriable overhead rate and efficiency variances. 2. Summarize the varances that you computed in (5) above by showing the net overall favorable of unfavorable variance for the month. Complete this question by entering your answers in the tabs below. 1a. Compute the following varlances for June, materials price and quantity variances. 1b. Compute the following variances for June, labor rate and efficiency variances. 1c. Compute the following variances for June, variable overhead rate and efficiency variances. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and 'None" for no effect (i.e, zero variance). Input all amounts as positive values.) Summarize the variances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month. (Indicate the effect of each varlance by selecting " F " for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input the amount as positive value.)