16-38. Comprehensive Cost Variance Analysis Pueblo is a fast-growing chain of oil change stores. Following data are available for last year's services: Pueblo Service performed 396,000 oil changes last year. It had budgeted 360,000 oil changes, averaging 10 minutes each. Standard variable labor and support costs per oil change were as follows: Direct oil specialist services: 10 minutes at $12 per hour.. $2 at 12 per hour....... Variable support staff and overhead: 7.5 minutes at $8 per hour... 1 Fixed overhead costs: Annual budget......... ... ... ... ... .. $432,000 Fixed overhead is applied at the rate of $1.20 per oil change. Actual oil change costs: Direct oil specialist services: 396,000 changes averaging 12 minutes at $13.00 per hour. ....... Variable support staff and overhead: 0.14 labor-hours at $7.50 per hour X 396,000 changes ................ Fixed overhead ................................. .......... $1,029,600 415,800 500,000 Prepare a cost variance analysis for each cost for last year. Actual Rate x Standard Rate x Actual Hours Actual Hours Standard Rate x Standard Hours Direct Labor Rate Variance Efficiency Variance Actual Variable Overhead Costs Standard Rate x Actual Hours Standard Rate x Standard Hours Variable Overhead Spending Variance Efficiency Variance Actual Fixed Overhead Costs Budgeted Fixed Overhead cost Standard Rate x Standard Units Fixed Overhead Budget Variance Volume Variance