This is the question I need help with:

Problem 11-5 Comprehensive Variance Problem Hayes Chemical Company produces a chemical used in dry cleaning. Its accounting system uses standard costs. Standards for each 0.5-gallon can of chemical and actual data for Hayes Chemical follow: Standards and budgeted information: Gallons of material per can of chemical 1.20 Hours of labor per can of chemical 1.50 Standard cost per gallon of material $5.00 Standard cost per hour of labor $9.00 Overhead application rate per can $7.75 Expected production - cans of chemical 20,000 Expected xed overhead per year $55,000 Variable overhead rate per 0.5-gallon can $5.00 Actual information for 2018: Cans produced 23,000 Gallons of material purchased 35,000 Cost of material purchased $250,000 Gallons of material used in production 30,000 Cost of direct labor incurred $290,000 Average wage rate per hour $8.25 Actual overhead cost $220,000 Required a. Determine the standard cost per unit. Material x Labor x Variable overhead Fixed overhead + Total unit cost b. Calculate the material. labor. and overhead standards. Material price variance X Favorable or unfavorable? Material quantity variance X Favorable or unfavorable? Labor rate variance x Favorable or unfavorable? Labor efciency variance X Favorable or unfavorable? Overhead controllable variance Favorable or unfavorable? Overhead volume variance Favorable or unfavorable? (1. List a possible cause for each variance. Unfavorable Material Price Variance: Unfavorable Material Quantity Variance: Favorable Labor Rate Variance: Unfavorable Labor Efciency Variance: Unfavorable Controllable Overhead Variance: Favorable Overhead Volume Variance