(1) Standard Standard Quantity orPrice Standard Cost Inputs Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Hours 2.20 pounds 1.00 hours 1.90 hours or Rate $16.20 per pound $15.30 per hour $9.10 per hour $35.64 $15.30 s 9.10 $60.04 Total Variances Reported standardPriceQuantity or Costor Rate Efficiency $641, 520 $12, 964 F $32, 400 U $275, 408 $ 3,800 u $15, 300 U Direct materials Direct labor Variable manufacturing overhead $163, 800 4,900 F$ 2t Applied to Work in Process during the period. The company's manufacturing overhead cost is applied to production on the basis of direct labor-hours. All of the materials purchased during the period were used in production. Work in process inventories are insignificant and can be ignored