Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Quantity 3.50 sq. ft. 1 hrs. Standard Price (Rate) $ 2.40 per sq. ft. $11.00 per hr. Standard Unit Cost $ 8.40 11.00 Direct materials (cork board) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($58,500 = 130,000 units) 1 hrs. $ 0.65 per hr. 0.65 0.45 Bullseye has the following actual results for the month of September: Number of units produced and sold Number of square feet of corkboard used Cost of corkboard used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 110,000 400,000 $1,000,000 125,000 $1,262,500 $ 72,000 $ 54,000 Required: 1. Calculate the direct materials price, quantity, and total spending variances for Bullseye. 2. Calculate the direct labor rate, efficiency, and total spending variances for Bullseye. 3. Calculate the variable overhead rate, efficiency, and total spending variances for Bullseye. Required 1 Required 2 Required 3 Calculate the direct materials price, quantity, and total spending variances for Bullseye. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct Materials Price Variance Direct Materials Quantity Variance Direct Materials Spending Variance $ $ $ 40,000 36,000 76,000U U U Required 1 Required 2 Required 3 Calculate the direct labor rate, efficiency, and total spending variances for Bullseye. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Direct Labor Rate Variance Direct Labor Efficiency Variance Direct Labor Spending Variance $ 112,500 F $ 165,000U $ 52,500 u Required 1 Required 2 Required 3 Calculate the variable overhead rate, efficiency, and total spending variances for Bullseye. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance $ $ $ 9,250 F 53,500 U 9,250 X U