Current Attempt in Progress Rudd Clothiers is a small company that manufactures tall-mer's sults. The company has used a standard cost accounting system. In May 2020, 10,800 suits were produced. The following standard and actual cost data applied to the month of May when normal Capacity was 14.000 direct labor hours. All materials purchased were used. Cost Element Standard (per unit) Actual Direct materials 6 yards at $4.10 per yard $255,060 for 65.400 yards ($3.90 per yard) Direct labor 1.20 hours at $14.00 per hour $198,144 for 13,760 hours ($14.40 per hour) 1.20 hours at 6.10 per hour (fixed $3,50, variable $49,800 foed overhead 536,500 variable Overhead $2.60) overhead Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted foed overhead costs were $49,000, and budgeted variable overhead was $36,400. (a) Compute the total price and quantity variances for (1) Materials and (2) labor. (Round per unit values to 2 decimal places, os 52.75 and final answers to decimal places 68 52) (1) Total materials variance 5 Materials price variance $ Materials quantity variance $ 121 Totsabor Valance $ Labor price variance Labor quantity variano variable overhead was $36.400. (a) Compute the total price and quantity variances for (1) materials and (2) labor. (Round per unit values to 2 decimal places, e 52.75 and final answers to decimal places, e... 52.) (1) Total materials variance $ Materials price variance $ > Materials quantity variance $ > (2) Totaltabor variance S Labor price variance $ Labor quantity variance (b) Compute the total overhead variance Total overhead variance $ e Textbook and Media