14 pts Fig and Love makes monogrammed Christmas stockings that it sells online. The company has developed the following standard costs for each stocking: Direct materials: 5 yards of velvet material, $12 per yard $ 60.00 Direct labor: 2 hrs. per train at $15 per hour$ 30.00 Variable Overhead: 3 Machine hours at $5 per MH$ 15.00 Fixed overhead: ($40,000/2,000 stockings) $ 20.00 Standard Cost per unit$125.00 They planned for and made 2.000 stockings. Actual results were: Purchased 12,000 yards and used 11.000 yards of material at a total cost of $162.000 . Total Direct Labor Cost was $58,500 for 4,500 hours Variable Overhead was $19,140 for 5.800 machine hours Fixed Overhead was $38,000 Calculate the direct materials, direct labor, and variable overhead variances. In addition, calculate the fixed overhead price variance and enter all the final answers in the boxes that follow below. $12 per yard $ 60.00 er train at $15 per hours 30.00 le Overhead: 3 Machine hours at $5 per MHS 15.00 . Fixed overhead: ($40,000/2.000 stockings) $ 20.00 . Standard Cost per unit$125.00 They planned for and made 2.000 stockings. Actual results were: Purchased 12.000 yards and used 11.000 yards of material at a total cost of 5162000 Total Direct Labor Cost was $58,500 for 4,500 hours Variable Overhead was $19,140 for 5,800 machine hours . Fixed Overhead was $38,000 Calculate the direct materials, direct labor, and variable overhead variances. In addition calculate the fixed overhead price variance and enter all the final answers in the boxes that follow below Variance Type: Amount: Favorable Fl Unte Direct materials price variance Direct materials quantity variance Direct labor rate variance Direct labor efficiency variance Variable OH price variance Variable OH efficiency variance Fixed OH price variance