Alpha Omega Industry uses standard-cost system and had the following standards for a unit of product: Quantity per unit. Cost per quantity.. cost per unit Direct material. 3.7 meter $5.00 per meter $18.50 Direct labor. 0.90 hour $7.50 per hour $6.75 Variable manufacturing overhead 0.90 hour $2.50 per hour Fixed manufacturing overhead 0.90 hour $3.00 per hour $ 2.70 $ 2.25 The denominator activity for developing the budgeted manufacturing overhead is on the basis of direct labor hours for total budgeted units of 8,200. For the month just ended, the company produced 8,000 units and incurred the following: a. Purchased direct materials at $4,80 per meter at a total cost of $153,600 on account b. Direct materials was issued to production, there was neither beginning nor ending direct materials inventory for the month. Direct labor incurred and paid at $8 per hour at a total cost of $51,200 d. Variable manufacturing overhead incurred totaled 517,600. e. Fixed manufacturing overhead incurred totaled $22,000. Choose Favorable or Unfavorable Question: Variance balance 1. Compute the amount as direct materials price variance and state whether it is favorable or unfavorable. 2. Compute the amount as direct materials usage variance and state whether it is favorable or unfavorable. 3. Compute the amount as direct labor rate variance and state whether it is favorable or unfavorable. 4. Compute the amount as direct labor efficiency variance and state whether it is favorable or unfavorable. 5. Compute the amount as variable manufacturing overhead spending variance and state whether it is favorable or unfavorable. 6. Compute the amount as variable manufacturing overhead efficiency variance and state whether it is favorable or unfavorable. 7. Compute the amount as fixed manufacturing overhead budget variance and state whether it is favorable or unfavorable. [ C 8. Compute the amount as fixed manufacturing overhead volume variance and state whether it is favorable or unfavorable