Benson Company manufactures molded candles that are finished by hand. The company developed the following standards for a new line of drip candles. Amount of direct materials per candle Price of direct materials per pound Quantity of labor per unit Price of direct labor per hour Total budgeted fixed overhead 1.90 pounds $ 0.60 1.50 hours $ 7.70/hour $ 220,400 During Year 2, Benson planned to produce 38,000 drip candles. Production lagged behind expectations, and actually produced only 31,000 drip candles. At year-end, direct materials purchased and used amounted to 60,200 pounds at a unit price of $0.55 per pound. Direct labor costs were actually $7.30 per hour and 49,000 actual hours were worked to produce the drip candles. Overhead for the year actually amounted to $192,200. Overhead is applied to products using a predetermined overhead rate based on estimated units. e. Compute the price and usage variances for direct materials and direct labor. f. Compute the fixed cost spending and volume variances. Complete this question by entering your answers in the tabs below. Req A and B Req C and D Req E Req F Compute the fixed cost spending and volume variances. (Indicate the effect of each variance by selecting "F" f "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Fixed MOH Cost Spending variance Volume variance Variance U None e. Compute the price and usage variances for direct materials and direct labor. f. Compute the fixed cost spending and volume variances. Complete this question by entering your answers in the tabs below. Req A and B Req C and D Req E Req F Compute the price and usage variances for direct materials and direct labor. (Indicate the effect of each varian "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Cost Direct materials: Price variance Usage variance Direct labor: Price variance Variance F Usage variance U