compute the price and quantity variances for materials,labor, variance overhead. label each variance as well as the direction of the variance favorable or unfavorable

Derickson Inc. has provided the following standards for one of its products: Standard Quantity/Hours Standard Price/Rate Direct Material 7.6 ounces 59.40 per ounce Direct Labor 1.4 direct labor hours $18.00 per direct labor hour Variable Overhead 1.0 machine hours $6.00 per machine hour The following information was compiled during the month of March: -7,600 units were produced -63.000 ounces of direct materials were purchased for 5560,700 -60,000 ounces of direct materials were used in production -10,200 direct labor hours were recorded at a cost of $196,350 -7.800 machine hours were recorded at a cost of $44,460 Derivad