0. Laoor fase and enticiency vahances. c. Varible owerhead rate and efficiency variances. 2. How much of the $0.24 excess unit cost is traceable to coch of the veriances computed in requirement 1 . 3. How much of the 50.24 excess unit cost is tracieable to aoporent inelficient use of labor time? Complete this question by entering vour answers in the tabs below. How much of the 5024 esctis unit cost is vaceable to exch of the variances computed in requiremert 1 D. Labor rate ana efticiency vanances. c. Variable cverthead rate and efficiency variances. 2. How much of the $0.24 excess unit cost is traceable to each of the variances computed in requirement 1 . 3. How much of the $0.24 excess unit cost is traceable to apporent inefficient use of labor time? Complete this question by entering your answers in the tabs below. How much of the $0.24 excess unit cost is traceable to apporent inefficient use of labor time? Note: Indicate the effect of each variance by selecting "F" for favarabie, " U " tor unfavorable, and "None" for no effect (t.e., zero variance). Input all amounts as positive values bo not round intermediate calculations; Round your final answers to 2 decimal places. 1. Compute the fonowng variances for May: a. Moterials price and quantisy variances. b. Labor rate and efficiency variances. c. Variable overthead rate and efficiency variances. 2. How much of the $0.24 excess unit cost is troceable to esch of the variances computed in requirement 1 . 3. How much of the $0.24 excess unit cost is traceable to apporent inefficient use of labor time? Complete this question by entering vour answers in the tabs below. 1a. Compute the following variances for May, muterials price and quantity variances. 16. Compute the following yariances for May, Labor tote and efficiency variances. ie Compute the followim varances for Mory yariable overhead rate and emciency yariances: rero variance), Input all amounts os positive values. Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with actual cost date for May. The production superintendent was pleased when he saw this report and commented. "This 50.24 excess cost is well within the 5 percent limit management has set for acceptable variances. it's obvious there's not much to worry about with this product: Actual production for the month was 13,000 units. Variable overhead cost is assplped to products based on direct labor-hours. There were no beginning or ending inventories of materials. Required: 1. Compute the following variances for May: a. Materials price and quantity variances b. Labor rate and efficiency variances. c. Variable overhead rate and efficiency variances