BUS2102-Spring 2019-Chapter's 10, 11 &Ab/Var Costing Fun & Exciting Exercises Round everything to 2 decimals places if needed Exercise 1) Deporte Company produces single-colored t-shirts. Material for the shirts are dyed in large vats. After dying the materials for a given color, the vats must be cleaned and prepared for the next batch of materials to be colored. The following standards for changeover for a given batch have been established: Direct materials (2.4lbs. @s0.95) $2.28 Direct labor (0.75 hr. @ $7.40)5.55 Standard prime cost $7.83 During the year, 79,500 pounds of material were purchased and used for the changeover activity. There were 30,000 batches produced, with the following actual prime costs: Direct materials Direct labor $63,000 $163,385 (for 22,450 hrs.) Required: Compute MPV, MUV, LRV, and LEV. Box or circle your final answers