Cristol Company produces sheets. The master budget shows the following standards information and indicates the company expected to produce and sell 27,000 units for the year. Cristol actually produced and sold 30,000 units for the year. During the year, the company purchased 120,000 yards of material for $349,000, and used 104,000 yards in production. A total of 49,000 labor hours were worked during the year at a cost of $547,000. Variable overhead costs totaled $211,000 for the year. A. Calculate the materials price variance and the materials quantity variance. Clearly label each variance as either favorable or unfavorable immediately to the right of each variance. B. Calculate the labor rate variance and the labor efficiency variance. Clearly label each variance as either favorable or unfavorable immediately to the right of each variance C. Calculate the variable overhead spending variance and the variable overhead efficiency variance. Clearly label each variance as either favorable or unfavorable immediately to the right of each variance. A. Materials Price Variance \begin{tabular}{|l|l|l|l} \hline Actual quantity & & Actual quantity & \\ \hline Actual price & & Standard price & \\ \hline Total dollars & & Total dollars & \\ \hline \hline \end{tabular} Materials price variance Materials Quantity Variance \begin{tabular}{l|l|l|l} \hline Actual quantity & & Standard quantity & \\ \hline Standard price & & Standard price & \\ \hline Total dollars & & Total dollars & \\ \hline \hline \end{tabular} B. Labor Rate Variance \begin{tabular}{l|l|l|l} \hline Actual hours & & Actual hours & \\ \hline Actual rate & & Standard rate & \\ \cline { 1 - 2 } Total dollars & & Total dollars & \\ \hline \hline \end{tabular} Labor rate variance Labor Efficiency Variance Labor efficiency variance C. Variable Overhead Spending Variance \begin{tabular}{|l|l|l|l} \hline Actual hours & & Actual hours & \\ \hline Actual rate & & Standard rate & \\ \hline Total dollars & & Total dollars & \\ \hline \hline \end{tabular} Variable overhead spending variance Variable Overhead Efficiency Variance \begin{tabular}{|l|l|l} \hline Actual hours & & Standard hours \\ \hline Standard rate & \\ \cline { 1 } Total dollars & \\ \hline \end{tabular} Variable overhead efficiency variance