Check my work New Jersey Valve Company manufactured 8,300 units during January of a control valve used by milk processors in its Camden plant. Records indicated the following: polis Direct labor 51.100 F. at $14.30 per hr. Direct material Ib. at $3.50 per purchased Direct material used 24,600 lb. 27.000 b. The control valve has the following standard prime costs: Direct 1b. at 93.40 per material hr. at $14.70 per Direct labore Standard prin cont per unit 30 90.40 Required: 1. Prepare a schedule of standard production costs for January, based on actual production of 8.300 units 2. For the month of January, compute the following variances Complete this question by entering your answers in the ta Required: 1. Prepare a schedule of standard production costs for January, based on actual production of 8,300 units. 2. For the month of January, compute the following variances. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of standard production costs for January, based NEW JERSEY VALVE COMPANY: CANDEN PLANT Schedule of Standard Production Conte Based on .30 Units For the Month January Blandard Com Demo Die Required: 1. Prepare a schedule of standard production costs for January, based on actual production of 8,300 units. 2. For the month of January, compute the following variances. Complete this question by entering your answers in the tabs below. Required 1 Required For the month of January, compute the following variances. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter" for no effect (.e., zero variance).) a. Direct-material price variance b. Direct material quantity variance c. Direct-material purchase price varianco d. Direct labor rate variance e Direch labor efficiency variance