Dillard, Incorporated, has developed the following standard cost data based on a denominator volume of 60,000 direct labor hours (DLHs). Budgeted fixed overhead is $360,000 and budgeted variable overhead is $180,000 at this level of activity. Direct material (DM): Standard pounds per unit of output 3.0 Standard cost per pound of material $ 2.00 Standard DM cost per unit of output $ 6.00 Direct labor (DL): Standard DLHs per unit of output 0.5 Standard wage rate (price) per DLH $ 8.00 Standard DL cost per unit of output $ 4.00 Factory overhead Standard DLH per unit 0.50 Standard overhead application rate per DLH $ 9.00 Standard overhead cost per unit of output $ 4.50 Total standard cost per unit produced $ 14.50 During the most recent period, the company used 48,000 DLHs to produce 128,000 units. Additional actual results for the period include the following: Direct material: Pounds of materials used 380,000 Total cost of materials used $ 779,000 Direct labor: Number of DLHs worked 63,000 Total labor cost incurred $ 507,150 Variable overhead $ 220,000 Fixed overhead $ 365,000 Required: Determine all variances for direct materials, direct labor, and factory overhead. Use a 4-variance breakdown (decomposition) of the total overhead variance for the period. Assume that the direct materials price variance is calculated at point of production, not point of purchase. Note: this problem requires knowledge from Chapter 14.