19) Graybeal Corporation makes makes a product with the following standard costs: Standard Quantity or Hours Direct materials Direct labor Variable overhead.... 4.3 ounces 0.7 hours 0.7 hours Standard Price or Rate $6.00 per ounce $21.00 per hour $7.00 per hour le company reported the following results concerning this product in March. Actual output Raw materials used in production...... Actual direct labor-hours.. Purchases of raw materials ............ Actual price of raw materials.............. Actual direct labor rate........ Actual variable overhead rate............. 3,500 units 14,710 ounces 2,270 hours 16,700 ounces $5.80 per ounce $21.90 per hour $7.30 per hour The materials price variance is recognized when materials are purchased. Variable overhead i applied on the basis of direct labor-hours. a.CAQ -5Q) X5P LY, 700-(4.3X3 a usid =-2040 Required: 6. (AP-SP) XA = (5.80-6) X 14,200 a. Compute the materials quantity variance. C.AH-SH) X$R=1227-236 b. Compute the materials price variance. d.(AR-SR) X AH = 31.90-26,00 c. Compute the labor efficiency variance. d. Compute the labor rate variance. e variance. e.AH-5H) X SR-2270-(1x 30m e. Compute the variable overhead efficiency variance in *f, CAR-SR) XAHE (.30- f. Compute the variable overhead rate variance. Facher Wares is a division of a maior commoration The following data for the Intact