Direct materials, 2 pounds at $10.00 per pound The Valley Plant of Patton Supply manufactures a single product. The standard cost sheet for the product follows: Direct labor, 0.8 hours at $31.25 per hour $20 25 Factory overhead applied at 120% of direct labor (variable costs $18; fixed costs $12) 30 Variable selling and administrative cost 10 Fixed selling and administrative cost 12 $97 Total unit costs Standards have been computed based on a master budget activity level of 20,000 direct labor-hours per month. Actual activity for the past month was as follows: Materials used Direct labor Total factory overhead Production 46,500 pounds at $9.90 per pound 17,800 hours at $32 per hour $ 657,000 22,500 units Required: a. Prepare variance analyses for the variable and fixed costs. b. Complete the following table with the total variance for a resource. Complete this question by entering your answers in the tabs below. Required A Required B Prepare variance analyses for the variable and fixed costs. Note: Indicate the effect of each variance by selecting "P" for favorable, or "U" for unfavorable. If there is no effect, do not select either option < Prev 5 of 5 Next Complete this question by entering your answers in the tabs below. Required A Required B Prepare variance analyses for the variable and fixed costs. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Direct materials Price variance Efficiency variance Direct labor Price variance Efficiency variance Variable overhead Fixed overhead Efficiency variance Production volume variance Required A Required B > Required: a. Prepare variance analyses for the variable and fixed costs. b. Complete the following table with the total variance for a resource. Complete this question by entering your answers in the tabs below. Required A Required B Complete the following table with the total variance for a resource. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Resource Direct materials Direct labor Overhead Amount U/F