1,000 units Budgeted production Actual production Materials: 980 units Standard price per pound $2.00 12 Standard pounds per completed unit Actual pounds purchased and used in production Actual price paid for materials 11,800 $23,000 Labor: $14 per hour Standard hourly labor rate Standard hours allowed per completed unit 4.5 Actual labor hours worked 4,560 Actual total labor costs $62,928 Overhead: Actual and budgeted fixed overhead $27,000 Standard variable overhead rate $3.50 per standard labor hour $15,500 Actual variable overhead costs Overhead is applied based on standard labor hours. Enter favorable variances as negative numbers. Direct material price: $ Favorable Direct material quantity variance: $ Unfavorable