Assume that Iron company producing 700 laptops during 2018. Standard and actual costs are as follows:: The standard quantity of direct material is 60 KG iron, natural loss of iron 6%, damaged Pieces 2%, the standard price is $ 16/KG. While the actual units used are 29,120 KG, each KG $ 12. 

The standard direct labor time is 8 hours, and the standard number of workers is 40. Standard damaged rate is 10%, standard production stops 10%, standard work break is 3 hours, standard direct labor wage is 6 plus 2 as a bonus. While in fact, the direct labor hour is 62,650, the actual wage is the same as the standard price but without the bonus. The application standard rate is direct material quantity. And the application standard rate is $ 8/ KG. 

While in actuality, the total overhead cost is $86,000. 

Requirements; 

1- Calculate the standard and actual costs 

2- Analyze the deviation for each element and provide a comment  in the result of deviation.