CJ-7 (AIYU) Calculaliny viiell malenial and Direct Lanvi variANLED (LU J-3, J Betty's Bakery has the following standard cost sheet for one unit of its most popular cake: Direct materials Direct labor SQ 1.2 pounds 0.8 hours During the month of May, the company made 980 cakes and incurred the following actual costs: Direct materials purchased and used (1,500 pounds), $1,950 Direct labor (1,040 hours), $11,960 Required: 1. Calculate the direct materials price variance. 2. Calculate the direct materials quantity variance. 3. Calculate the direct materials spending variance. 4. Calculate the direct labor rate variance. SP $ 1.50 per pound $ 12.00 per hour 5. Calculate the direct labor efficiency variance. 6. Calculate the direct labor spending variance. Note: For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U" for no effect (i.e., zero variance). Round your intermediate calculations to two decimal places.

Betty's Bakery has the following standard cost sheet for one unit of its most popular cake: During the month of May, the company made 980 cakes and incurred the following actual costs: Direct materials purchased and used (1,500 pounds), $1,950 Direct labor (1,040 hours), $11,960 Required: 1. Calculate the direct materials price variance. 2. Calculate the direct materials quantity variance. 3. Calculate the direct materials spending variance. 4. Calculate the direct labor rate variance. 5. Calculate the direct labor efficiency variance. 6. Calculate the direct labor spending variance. Note: For all requirements, Indicate the effect of each variance by selecting "F" for favorable, "U for no effect (i.e., zero variance). Round your intermediate calculations to two decimal places