5. Chung-Ang Company is a manufacturing firm that provided the following information: Units produced Direct Materials Direct Labor Variable Manufacturing Overhead Fixed Manufacturing Overhead Actual Result Planning Budget 4,000 4,500 4,000 x 11Kg x $7 = $308,000 4,000 x 1.5h x $10.5 = $63,000 $240,000 (4,000 x 1.5h x $40) $470,000 4,500 x 10kg x $8 = $360,000 45,000 x 1h x 10$=45,000 $225,000 (45,000 x 1h x 50$) $450,000 5-1) Compute the materials price and quantity variances. 5-2) Compute the labor rate and efficiency variances. 5-3) Compute the variable manufacturing overhead rate and efficiency variances. 5-4) Compute the fixed manufacturing overhead budget variances.