Crane Company produces one product, a putter called GO-Putter. Crane uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 120,000 units per year. The total budgeted overhead at normal capacity is $ 720,000 comprised of $ 240,000 of variable costs and $ 480,000 of fixed costs. Crane applies overhead on the basis of direct labor hours. During the current year, Crane produced 77,100 putters, worked 88,600 direct labor hours, and incurred variable overhead costs of $ 238,780 and fixed overhead costs of $ 257,600. (a) Compute the predetermined variable overhead rate and the predetermined fixed overhead rate. (Round answers to 2 decimal places, e.g. 2.75.) Variable Fixed Predetermined Overhead Rate $ Sunland Company uses a standard cost accounting system. In 2022, the company produced 28.400 units. Each unit took several pounds of direct materials and 1.6 standard hours of direct labor at a standard hourly rate of $11.00. Normal capacity was 50,300 direct labor hours. During the year, 130,700 pounds of raw materials were purchased at $ 0.95 per pound. All materials purchased were used during the year. (a) If the materials price variance was $2,614 favorable, what was the standard materials price per pound? (Round answer to 2 decimal places, e.g. 2.75.) Standard materials price per pound $ e Textbook and Media