(a) Compute all of the materials and labor variances. Total materials variance $ Materials price variance $ Materials quantity variance $ Total labor variance $ Labor price variance $ Labor quantity variance $ (b) Compute the total overhead variance. Total overhead variance $ Swifty Corporation manufactures a single product. The standard cost per unit of product is shown below. The predetermined manufacturing overhead rate is $10 per direct labor hour ( $5.000.50). It was computed from a master manufacturing overhead budget based on normal production of 2,500 direct labor hours (5,000 units) for the month. The master budget showed total variable costs of $13,750 (\$5.50 per hour) and total fixed overhead costs of $11,250 ( $4.50 per hour). Actual costs for October in producing 3,000 units were as follows