Calculate variable cost variances$$explain results The standards for one case of Springfever Tonic are as follows: Direct materials $8$ lb @ $$3\mathrm{.}00/$lb $=$ $$24$ Direct labor $6$ hr @ $$10\mathrm{.}00/$hr $=$ $$60$ Variable overhead $($based on direct labor hours$)6$ hr @ $$5\mathrm{.}00/$hr $=$ $$30$ During the week ended March $13,$ the following activity took place: $14,800$ lb of raw materials were purchased for inventory at a cost of $$2\mathrm{.}97$ per pound. $2,000$ cases of finished product were produced. $16,600$ lb of raw materials were used. $11,600$ direct labor hours were worked at a total cost of $$121,800.$ $$60,900$ of actual variable overhead costs were incurred. Required: Page $596$Calculate each of the following variances and provide plausible explanations for the results: Price variance for raw materials purchased. Raw materials usage variance. Direct labor rate variance. Direct labor efficiency variance. Variable overhead spending variance. Variable overhead efficiency variance.