Nonmanufacturing Cost Variances: Home Loan Company originates mortgage loans for residential housing. The company charges a service fee for processing loan applications. This fee is set twice a year based on the cost of processing a loan application. For the first half of this year. Home Loan estimated that it would process 75 loans. Correspondence, credit reports, supplies, and other materials that vary with each loan are estimated to cost $45 per loan. The company hires a loan processor at an estimated cost of $27,000 per year and an assistant at an estimated cost of $20,000 per year. The cost to lease office space and pay utilities and other related costs are estimated at $58,000 per year. During the first six months of this year. Home Loan processed 79 loans. Use of cost of materials, credit reports, and other items related to loan processing was 8 percent greater than expected for the volume of loans processed. Actual cost of these items was $3,700. The loan processor and her assistant cost $23,800 for the six months. Leasing and related office costs were $28,100.

Required: Prepare an analysis of the variances, like the ones in Illustrations 19-10 and 19-12, for Home Loan Corp.