Apex Corporation. Open-ended. You must upload a file for this question before time is up. Apex Corporation manufactures fencing jackets. The company uses a standard cost system to control costs. In terms of the standards that have been set for the jackets, the factory should work 780 direct labor-hours each month and produce 3,900 jackets. The standard costs at this level of production are as follows: Total Per Unit of Product Direct materials $ 92,352 $ 23.68 Direct labor $ 13,260 3.40 Variable manufacturing overhead (based on direct labor-hours) $ 2,340 0.60 $27.68 During April, the factory worked only 745 direct labor-hours and produced 4,000 jackets. The following actual costs were recorded during the month: Total Per Unit of Product Direct materials (14,000 yards) $ 98,000 $ 24.50 Direct labor $ 14,400 3.60 Variable manufacturing overhead $ 7,200 1.80 $29.90 At standard, each jacket should require 3.2 yards of material at $7.40 per yard. All of the materials purchased during the month were used in production. Required: 1. Compute the (i) Materials Price and (ii) Materials Quantity variances for April. 2. Compute the (i) Labor Rate and (ii) Labor Efficiency variances for April