4 Betty's Bakery has the following standard cost sheet for one unit of its most popular cake Direct materials Direct labor 50 1.2 pounds 0.8 hour's SP $ 1.50 per pound $12.00 per hour 2 points eBook References During the month of May, the company made 920 cakes and incurred the following actual costs Direct materials purchased and used (1.380 pounds) $1794 Direct labor (980 hours) $11,270 Required: 1. Calculate the direct materials price variance 2. Calculate the direct materials quantity variance 3. Calculate the direct materials variance 4. Calculate the direct labor rate variance 5. Calculate the direct labor efficiency variance 6. Calculate the direct labor spending variance (For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) 1. Direct materials price variance 2 Direct materials quantity variance aw I be here to search o 4 During the month of May, the company made 920 cakes and incurred the following actual costs. Direct materials purchased and used (1,380 pounds) $1794 Direct labor (980 hours) $11.270 Skipped Required: 1. Calculate the direct materials price variance 2. Calculate the direct materials quantity variance 3. Calculate the direct materials variance 4. Calculate the direct labor rate variance 5. Calculate the direct labor efficiency variance 6. Calculate the direct labor spending variance (For all requirements. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) clock Priet ferences 1. Direct materiais price variance 2. Direct materiais quantity variance 3. Total direct materials spending variance 4. Direct labor rate variance 5. Direct labor efficiency variance 6. Total direct labor spending variance w e here to search o 03 G