At the beginning of the year, Charlie Company had the following standard cost sheet for one of its plastic products. Charlie planned to produce 1400 units for the year. Direct materials (8 pounds at $6.00) $48.00 Direct labor (5 hours at $20) 100.00 Standard prime cost per unit S148.00 Charlie uses a standard costing system. During the year, a variable overhead rate of $2.80 per direct labor hour was used. Actual results: Actual number of units produced: 1460 Materials purchased: 11,500 pounds at $5.85 per pound Materials used in production: 11,350 pounds Direct labor: 7500 hours at $19.50 Actual variable overhead: S22,800 Compute the following variances. Remember to label your answers with an For U VOH spending variance Labor rate variance VOH efficiency variance Materials price variance Materials usage variance Labor efficiency variance