Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] BatCo makes baseball bats. Each bat requires 1.00 pounds of wood at $16 per pound and 0.35 direct labor hour at $20 per hour. Overhead is assigned at the rate of $40 per direct labor hour. QS 23-6 (Algo) Total Cost variances LO P2 Assume the actual cost to manufacture 130 bats is $5,720.00. Compute the total cost variance and identify it as favorable or unfavorable. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) QS 23-8 (Algo) Direct materials price and quantity variances LO P3 QS 23-11 (Algo) Direct labor rate and efficiency variances LO P3 A company reports the following information for its direct labor. AH=ActualHoursSH=StandardHoursAR=ActualRateSR=StandardRate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable