Budget Performance Report Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Cost Category Standard Cost per 100 Two-Liter Bottles Direct labor $1.46 Direct materials 5.6 Factory overhead 0.36 Total $7.42 At the beginning of July, GBC management planned to produce 450,000 bottles. The actual number of bottles produced for July was 486,000 bottles. The actual costs for July of the current year were as follows: Cost Category Actual Cost for the Month Ended July 31 Direct labor $6,954 Direct materials 26,563 Factory overhead 1,767 Total $35,284 Enter all amounts as positive numbers. a. Prepare the July manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for WBC, assuming planned production. Genie in a Bottle Company Manufacturing Cost Budget For the Month Ended July 31 Standard Cost at Planned Volume(450,000 Bottles) Manufacturing costs: Direct labor $fill in the blank 946bd40a9fbef9d_1 Direct materials fill in the blank 946bd40a9fbef9d_2 Factory overhead fill in the blank 946bd40a9fbef9d_3 Total $fill in the blank 946bd40a9fbef9d_4 b. Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If required, round your answers to nearest cent. Genie in a Bottle Company Manufacturing Costs-Budget Performance Report For the Month Ended July 31 Actual Costs Standard Cost at Actual Volume(486,000 Bottles) Cost Variance- (Favorable) Unfavorable Manufacturing costs: Direct labor $fill in the blank c9a218f94fb901b_1 $fill in the blank c9a218f94fb901b_2 $fill in the blank c9a218f94fb901b_3 Direct materials fill in the blank c9a218f94fb901b_4 fill in the blank c9a218f94fb901b_5 fill in the blank c9a218f94fb901b_6 Factory overhead fill in the blank c9a218f94fb901b_7 fill in the blank c9a218f94fb901b_8 fill in the blank c9a218f94fb901b_9 Total manufacturing cost $fill in the blank c9a218f94fb901b_10 $fill in the blank c9a218f94fb901b_11 $fill in the blank c9a218f94fb901b_12 c. The Company's actual costs were $777.2 than budgeted. direct labor and direct material cost variances more than offset a small factory overhead cost variance.