11. The following information is available for Western Rider Inc. for June, 2021: per pair Standard Components of Standard Quantity Cost per pair Product Costs Standard Price of Jeans Direct materials $5.00 per sq. yd. 1.5 sq yds. per pair $ 7.50 Direct labor $9.00 per hr. 0.80 hr. per pair 7.20 Factory overhead Variable $3.60 per hr. 0.80 hr. per pair ($6.00 per hr.) Fixed $2.40 per hr. 0.80 hr. per pair 1.92 Total standard cost per pair $ 19.50 2.88 During the period, Western Rider produced 5,000 pairs of jeans and incurred the following costs. Component of Actual Quantity Product Costs Actual Price (Rate) (Time) Direct materials $5.50 per sq. yd. 7,300 sq yds. Direct labor $10.00 per hr. 3,850 hrs. verhead Variable=$10,400 Fixed=$12,000 Total actual cost of product for the period Actual Cost $ 40,150 38,500 22,400 $ 101,050 (1) Using the following diagram, analyze direct materials variance and interpret the cause of variance. (18 points) Actual Quantity Actual Quantity Standard Quantity X X Actual Price Standard Price Standard Price Price Variance Quantity Variance Page 3 of 5 Interpretation of cause of variance: (2) Using the following diagram, analyze direct labor variance and interpret the cause of variance. (18 points) Actual Hours Actual Hours Standard Hours Actual Rate Standard Rate Standard Rate Rate Variance Time Variance . Interpretation of cause of variance: Page 4 of 5 (3) Using the following diagram, analyze variable factory overhead variance and fixed factory overhead variance. (14 points) Actual Variable Factory Overhead = $ Standard Variable Factory Overhead = $ Actual Fixed Factory Overhead = $ Standard Fixed Factory Overhead = $ Variable Variance = Fixed Variance = Total FOH Variance