anagerial Accounting Variance AnalysisUnit Sales Company uses a standard costing system for its single product, Units, in which variable overhead is applied on the basis of direct labor hours.Standard Costs per Unit:Raw Materials $(1\mathrm{.}5$ grams @ $$16)$$$24\mathrm{.}00$Direct Labor $(0\mathrm{.}75$ hour @ $$8)$ $$6\mathrm{.}00$Variable MFG Overhead $(0\mathrm{.}75$ hour @ $$3)$ $$2\mathrm{.}25$Actual results for the current yearUnits produced $22,400$ #Purchases of raw materials $(21,000$ grams$)$ $$357,000$Raw materials used $33,400$ gmsDirect Labor $(16,750$ hours$)$ $$134,000$Variable MFG Overhead incurred $ $48,575$Compute the following:Direct materials price varianceDirect materials quantity varianceDirect labor rate varianceDirect labor efficiency varianceVariable overhead spending varianceVariable overhead efficiency variance