9. Nike Inc. makes a product with the following standard costs: Standard Quantity Standard Price or Hours or Rate Direct materials 3 pounds $6.10 per pound Direct labor 0.9 hours $18.50 per hour Variable overhead 0.8 hours $5.75 per hour In October the Nike Inc. produced 3,000 units purchased and used 8,400 pounds of the direct material and 2,620 direct labor-hours. Actual direct material cost $55,100, actual direct labor cost for the month was $48,546 and the actual variable overhead cost was $16,965. Nike Inc. applies variable overhead on the basis of direct labor-hours. Required: (indicate favorable or unfavorable) a. Compute the materials quantity variance b. Compute the materials price variance c. Compute the labor efficiency variance d. Compute the labor rate variance e. Compute the variable overhead efficiency variance f. Compute the variable overhead rate variance