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 $2.00 Direct materials 9.10 Factory overhead 0.55 Total $11.65 At the beginning of July, GBC management planned to produce 400,000 bottles. The actual number of bottles produced for July was 406,000 bottles. The actual costs for July of the current year were as follows: Cost Category Actual Cost for the Month Ended July 31 $7,540 35,750 Direct labor Direct materials Factory overhead 2,680 Total $45,970 Enter all amounts as positive numbers a. Prepare the July manufacturing standard cast budget direct labor, direct materials and factory overhead) for GBC, assuming planned production L For the Month Ended July 31 Standard Cost at Planned Volume (400,000 Bottles) 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 Genie In A Bottle Company Manufacturing Costs-Budget Performance Report For the Month Ended July 31 Standard Cost at Actual Cost Variance- Actual Volume Costs (Favorable) (406,000 Bottles) Unfavorable Manufacturing costs: Direct labor Direct materials Accounting numeric field Factory overhead Total manufacturing costs C. The Company's actual costs were $1,329 small factory overhead cost variance than budgeted direct labor and direct material cost variances more than offset a