Current Attempt in Progress Watenway Corporation manufactures a singla product. The standard coat per unit of product is shown below. The predaterminad manufacturing ovarhead rate is $16 per direct labor hour (\$16.00 1.00 ). It was computad from a master manufacturing ovarhead budget based on normal production of 5,600 direct labor hours (5,600 units] for the manth. The mastar budget showed tatal variable costs of $30,800 [ $5.50 per hour] and total fixad overhead costs of $58,800 [\$10.50 per hour]. Actual costs for Oetober in producing 4,300 units ware as follows. The purchasing dapartment buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be isnored. (a) Compute all of the materials and labor variances. Labor price variance $ Labor quantity variance 5 (b) Compute the total owerhead variance. Total ovarhead variance \$ eTextbook and Medla