Tools Excel File Edit AutoSave arr Insert Draw View Insert Format Es = Page Layout Formulas Data Window Help Extra Credit Opportuni Review View = = ab Data = A Cambria 12 A BIU E DA % Number Paste Oy Standard Qty or Standard Price or Hours Rate 2 Liters $4.00 per liter 1.5 hours $22 per hour 1.5 hours $5 per hour Direct materials. Direct labor Variable overhead 5 8 The company produced 5,000 units in September using 10,500 liters of direct material and 7400 9 direct labor hours. During the month, the company purchased 11,000 liters of the direct material at 10 $4.25 per liter. The actual direct labor rate was $21.00 per hour and the actual variable overhead 11 rate was $5.25 per hour. 12 The company applies variable overhead on the basis of direct labor hours. The direct materials 13 purchases variance is computed when the materials are purchased. 14 Required: 15 Calculate the spending variances, price variances, and quantity variances for direct materials 16 direct labor, and variable manufacturing overhead. Extra Credit Problem +