Business SCourse ACC241 001-Managerial Acct. My subscriptions My courses I Acc241 001-Managerial Acct. Ch 10: Standard Costing and variance Analysis Homework Ch. 10 QUESTION 5 Partially correct Mark 32.00 out of 89.00 F Flag question Variances, Entries, and Income Statement A summary of Glendale Company's manufacturing variance report for May 2016 follows: Total Standard Costs (9,200 units) Actual Costs (9,200 units) Variances Direct material $38,640 $42,630 $3,990 U Direct labor 193,200 193,120 80 F Variable overhead 23,460 23,230 230 F Fixed overhead 9,660 9,660 $264,960 $268,640 $3,680 U Standard material cost per unit of product is0.5 pounds at $8.40 per pound, and standard direct labor cost is 1.5 hours at $14.00 per hour. The total actual materials cost represents 4,900 pounds purchased at $8.70 per pound. Total actual labor cost represents 14,200 hours at $13.60 per hour. According to standards, variable overhead rate is applied at $1.70 per direct labor hour (based on a normal capacity of 15,000 direct labor hours or 10,000 units of product. Assume that all fixed overhead is applied to work in progress inventory. a. Determine the following variances