Calculator Print Item ebook Show Me How 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: Standard Cost Cost Category per 100 Two-Ulter Bottles $1.52 5.8 Direct labor Direct materials Factory overhead Total 0.34 $7.66 At the beginning of July, GBC management planned to produce 640,000 bottles. The actual number of bottles produced for July was 691,200 bottles. The actual costs for July of the current year were as follows: Cost Category Actual Cost for the Month Ended July 31 $10,296 39,127 Direct labor Direct materials Factory overhead 2,374 Total $51,797 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 favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number, Round your answers to two decimal places. Genie in a Bottle Company Manufacturing Costs-Budget Performance Report For the Month th Ended March 31 Standard Cost Cost at Actual Variance- Actual Volume (691,200 (Favorable) Costs Bottles) Unfavorable Manufacturing costs: Direct labor 10,506.24 X 10,296 X 210.24 X Direct materials 40,089.6 x 39,127 X 962.6 x Factory overhead 2,350.08 X 2,374 x -68.92 X Total manufacturing cost 52,945.92 X 51,797 X 1.103.92 Feed Oy Work Compare the actual costs with the standard cost at actual volume for direct labor, direct materials, and overhead. Identify the cost variance as favorable (actual less than standard) or unfavorable actual greater than standard