2. For the month of March, compute the following variances. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).)

a.Direct-material price variance

b.Direct-material quantity variance

c.Direct-material purchase price variance

d.Direct-labor rate variance

e.Direct-labor efficiency variance

Valport Valve Company manufactured 8,200 units during March of a control valve used by milk processors in its Shreveport plant. Records indicated the following: Direct labor Direct material purchased Direct material used 41,900 hr. at $14.50 33,000 lb. at $3.00 23,600 lb. The control valve has the following standard prime costs. Direct material: Direct labor: 3 lb. at $2.90 per lb. 5 hr. at $14.90 per hr. $ 8.70 74.50 Standard prime cost per unit $83.20 Required: 1. Prepare a schedule of standard production costs for March, based on actual production of 8,200 units. VALPORT VALVE COMPANY: SHREVEPORT PLANT Schedule of Standard Production Costs: Based on 8,200 Units For the Month of March Direct material Direct labor Total standard production costs 0