Gotta Cotta, Inc., manufactures basic terra cotta planters. Its standard cost information for the past year follows:

Gotta Cotta has the following actual results for the past year:

Required:

Calculate the following for Gotta Cotta:

1. Direct materials price, quantity, and total spending variances.

2. Direct labor rate, efficiency, and total spending variances.

3. Variable overhead rate, efficiency, and total spending variances.

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Direct costs Clay Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($480,000/800,000 units) Standard Quantity Standard Price (Rate) Standard Unit Cost 2 lbs. $ 0.80 per lb. $1.60 0.5 hr. 12.00 per hr. 6.00 0.40 per direct labor hour 0.20 0.60