Problem 9-20 Basic Varlance Analysis; the Impact of Varlances on Unit Costs [LO9-4, LO9-5, LO9-6) Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost data for May. Cont per s 7.60 Standardi 1.90 feet at $4.00 per f Actual: 1.85 feat at $4.40 per foot Direct Labori Standard: 1.10 hoursat$16.00 per hour Actual: 1.15 hourn at $15.40 per hour 17.60 Btandard: 1.10 hours at s9.00 per hour 9.90 8.60 per hour Total cost per unit 35.10 #35.74 of actual 1 eost ever standard coat per unie The production superintendent was pleased when he saw this report and commented: "This $0.64 excess cost is well within the 4 percent limit management has set for acceptable variances. It's obvious that there's not much to worry about with this product. Actual production for the month was 17,500 units. Variable overhead cost is assigned to products on the basis of direct labor-hours. There were no beginning or ending Inventories of materials. . Compute the following variances for May a. Materials price and quantity variances. b. Labor rate and efficiency variances c. Variable overhead rate and efficlency variances 2. How much of the $0.64 excess unit cost is traceable to each of the variances computed in () above. t > MacBook Air 3 5