Coo Time Left: 1:10:57 Fatimata Ndiaye. Attempt 1 Problem 2:18pelate at the beginning of the year, Crnig Company hund the following standard cost shoot for one of its plastic product. Cmig planned to produce 850 units for the year. Direct materials (8 pounds at $3.00) 524.00 Direct labor (3 hours at $20) 60.00 Standard primo cost per unit $84.00 Craig uses a standard costing system. During the year, a variable overhead rate of $5.70 per direct labor hour was used. Actual results: Actual number of units produced: 870 Materials purchased: 7,000 pounds at $2.85 per pound Materials used in production: 6800 pounds Direct labor: 2720 hours at $17.50 Actual variable overhead: $15,900 Compute the following variances. Remember to label your answers with an F or U 1. VOH efficiency variance 2. Labor rate variance 3. Labor efficiency variance 4. Materials price variance 5. Materials usage variance 5. VOH spending variance