Congratulations! Your work on the Air-Accountant shoes was so helpful that the company was bought out by Nike Inc and you made enough money you never have to work again! But...what fun would that be? So you started your own accounting consulting company called You Can Account On Us. Recently u were hired by a company named Cow Hopp to help analyze budget variances. Information for Cow pp's Commemorative Milk Glasses is below: Sta ndard Quantity Standard Price/Rate $ 1.95 perlb Standard Unit Cost DM (Clay DL Var MOH (based on DL) 1.8 lbs 2.25 hrs 2.25 hrs $300,000 estimated total 125,000 estimated units s 3.51 13.50 perhr 30.38 $ 2.81 $ 1.25 per hr Fissed MOH Additional data for the Milk Glasses is as follows: Units produced & sold Pounds of clay us ed Total cost of clay Labor hours worked Total DL cost Total Var MOH cost 118,000 209,000 $434,720 266,000 s3,452,50s $ 368,970 Total Fise d MOH cost s 295,000 You want to make a good impression on the folks at Cow Hopp so please produce a report showing the Quantity and Price variances for DM, DL, and Var MOH. In addition, please compute the volume and spending variances for Fixed MOH