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 $1.16 Direct materials 5.92 0.12 Factory overhead $7.4 At the beginning of July, GBC management planned to produce 510,000 bottles. The actual number of bottles produced for July was 550,800 bottles. The actual costs for Day of the current year were as follows: Actual Cost for the Cost Category Month Ended July 31 36,261 Derect labor Direct materials 31,825 Factory overhead 1.750 Tots 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 Genie in a Bottle Company Manufacturing Cost Bucket For the Month Ended July 31 Standard Cast Planned Volume 10,000 Boles) Manufacturing costs: Direct labor Direct materials Factory overhead Total 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 Faded July 31 Cost Variance Acud Standard Cont at Actual Volume(550, 100 Bottles) Favorable) Unfavorable Manufacturing costs Direct labor Direct materials Factory overhead Total manufacturing cost direct labor and direct material cost variances more than offset a small C. The Company's actual costs were $893.2 factory overhead cost variance